The Top 20 Indebted Countries in the World: A Comprehensive Review

The global debt landscape is complex and ever-evolving. As of 2023, the world’s total debt has surpassed $257 trillion, with various countries struggling to manage their financial burdens. Here’s a detailed examination of the top 20 indebted countries, considering their debt-to-GDP ratios, economic contexts, and growth prospects.

Methodology

This article relies on data from reputable sources, including:

1. International Monetary Fund (IMF)
2. World Bank
3. World Economic Outlook (WEO)
4. Trading Economics

Top 20 Indebted Countries

1. Lebanon: 349.88% debt-to-GDP ratio
   Lebanon’s severe economic crisis, coupled with political instability, has led to an unsustainable debt burden.
2. Japan: 255.07% debt-to-GDP ratio
   Japan’s aging population and sluggish economic growth exacerbate its debt concerns.
3. Sudan: 187.88% debt-to-GDP ratio
   Sudan’s economic struggles stem from decades of conflict, corruption, and mismanagement.
4. Eritrea: 179.66% debt-to-GDP ratio
   Eritrea’s isolated economy and restrictive policies hinder growth and debt repayment.
5. Greece: 172.6% debt-to-GDP ratio
   Greece’s debt crisis, though stabilized, remains a pressing concern.
6. Singapore: 167.5% debt-to-GDP ratio
   Singapore’s high debt levels are largely due to its sovereign wealth fund investments.
7. Cape Verde: 147.58% debt-to-GDP ratio
   Cape Verde’s tourism-dependent economy makes it vulnerable to external shocks.
8. Italy: 141.7% debt-to-GDP ratio
   Italy’s slow economic growth and aging population raise concerns.
9. Venezuela: 133.61% debt-to-GDP ratio
   Venezuela’s economic collapse, driven by hyperinflation and mismanagement.
10. Bhutan: 127.33% debt-to-GDP ratio
    Bhutan’s hydropower-dependent economy faces challenges.
11. Barbados: 122.51% debt-to-GDP ratio
    Barbados’ tourism-based economy struggles with debt.
12. United States: 121.31% debt-to-GDP ratio
    The US faces growing concerns over its national debt.
13. Suriname: 119.64% debt-to-GDP ratio
    Suriname’s mining-dependent economy is vulnerable.
14. Bahrain: 117.58% debt-to-GDP ratio
    Bahrain’s oil-dependent economy faces challenges.
15. Maldives: 114.37% debt-to-GDP ratio
    The Maldives’ tourism-based economy raises concerns.
16. Portugal: 112.4% debt-to-GDP ratio
    Portugal’s economic recovery remains fragile.
17. France: 111.8% debt-to-GDP ratio
    France’s slow economic growth and high spending.
18. Spain: 111.6% debt-to-GDP ratio
    Spain’s economic recovery faces challenges.
19. Canada: 107.38% debt-to-GDP ratio
    Canada’s growing debt levels raise concerns.
20. Belgium: 104.3% debt-to-GDP ratio
    Belgium’s complex politics and high spending.

Conclusion

These countries face significant debt burdens, but it’s essential to consider their unique economic contexts and growth prospects. Effective debt management strategies, economic reforms, and international cooperation can help mitigate these challenges.