Developing countries are known to owe debt, but in today’s world, developed countries are also owing. Governments create debt by issuing government bonds and bills. Less creditworthy countries sometimes borrow directly from a supranational organization. Loans from world bank or from countries that are willing to lend others money.
This article shows countries with highest amount of external debt:
1.Japan is an island country in East Asia located in the northwest Pacific Ocean. It is bordered by the Sea of Japan to the west and extends from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south.
Debt as a percentage of GDP: 237.7%
– Total GDP: $5.15 trillion
– Population: 126,476,461
Sudan, or North Sudan, officially the Republic of the Sudan, is a country in Northeast Africa. It is bordered by Egypt to the north, Libya to the northwest, Chad to the west, the Central African.
Debt as a percentage of GDP: 207.0%
– Total GDP: $30.87 billion
– Population: 43,849,260
3.Greece is a country in southeastern Europe with thousands of islands throughout the Aegean and Ionian seas.
Debt as a percentage of GDP: 176.6%
– Total GDP: $214.01 billion
– Population: 10,423,054
4.Eritrea is a northeast African country on the Red Sea coast. It shares borders with Ethiopia, Sudan and Djibouti.
Debt as a percentage of GDP: 165.1%
– Total GDP: $2.11 billion
– Population: 3,546,421
Lebanon, officially known as the Lebanese Republic, is a country in the Levant region of Western Asia, and the transcontinental region of the Middle East.
Debt as a percentage of GDP: 155.1%
– Total GDP: $58.57 billion
– Population: 6,825,445
Italy, a European country with a long Mediterranean coastline, has left a powerful mark on Western culture and cuisine. Its capital, Rome, is home to the Vatican as well as landmark art and ancient ruins.
– Debt as a percentage of GDP: 133.2%
– Total GDP: $1.99 trillion
– Population: 60,461,826
7.Cape Verde or Cabo Verde, officially the Republic of Cabo Verde, is an island country in the central Atlantic Ocean.
Debt as a percentage of GDP: 123.5%
– Total GDP: $2.01 billion
– Population: 546,388
Dear reader, I know you expected Nigeria to be on this list but, Nigeria debt is not yet on the top list, but government should regulate how they borrow money