Japan has the highest debt to GDP ratio in the world, at 266.2% as of 2020, according to the International Monetary Fund (IMF). This means that Japan's total debt is more than twice the size of its economy. Japan's debt is mainly owed to its own citizens, who hold most of its government bonds. Japan's debt has been rising steadily since the 1990s, due to low growth, aging population, and fiscal stimulus measures.
Sudan has the second highest debt to GDP ratio in the world, at 212.1% as of 2020, according to the IMF. This means that Sudan's total debt is more than twice the size of its economy. Sudan's debt is mainly owed to foreign creditors, especially the Paris Club and the Arab Monetary Fund. Sudan's debt has been increasing since the 1980s, due to civil wars, economic sanctions, corruption, and mismanagement.
Greece has the third highest debt to GDP ratio in the world, at 205.6% as of 2020, according to the IMF. This means that Greece's total debt is more than twice the size of its economy. Greece's debt is mainly owed to the European Union, the European Central Bank, and the IMF, as part of the bailouts that were granted to the country since 2010 to cope with the sovereign debt crisis. Greece's debt has been rising since the 2000s, due to high deficits, low growth, and tax evasion.
Eritrea has the fourth highest debt to GDP ratio in the world, at 177.2% as of 2019, according to the World Bank. This means that Eritrea's total debt is almost twice the size of its economy. Eritrea's debt is mainly owed to foreign creditors, especially China and the African Development Bank. Eritrea's debt has been growing since the 1990s, due to the war with Ethiopia, political isolation, and economic underdevelopment.
Suriname has the fifth highest debt to GDP ratio in the world, at 166.6% as of 2020, according to the IMF. This means that Suriname's total debt is more than one and a half times the size of its economy. Suriname's debt is mainly owed to foreign creditors, especially China and the IMF. Suriname's debt has been soaring since the 2010s, due to the collapse of commodity prices, currency devaluation, and fiscal mismanagement.