#highestdebt-to-gdp-ratio
#Japan #USA #France #Greece #Italy
#indebtedcountries
#worlddebt
According to MSN Money these are the top 12 countries drowning with national debt 2020.
1. Japan
2. Sudan
3. Greece
4. Lebanon
5. Italy
6. Portugal
7. Singapore
8. Mozambique
9. United States of America
10. Bahrain
11. Belgium
13. France
Japan has the current highest debt-to-GDP ratio at a huge 237.7%. Since 1997, debt has been on the increase, reaching US$12.2 trillion (£9.3tn) in 2019, while GDP growth has stagnated. In order to deal with the debt, the Japanese central bank has simply reduced interest rates and bought government bonds, which has put more money into the financial system. Japan insists it’ll be able to repay its debts one day, yet with a population that’s both aging and shrinking it looks unlikely that the government will balance the books by itself and it may be reliant on foreign investors for help.
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