What country is in the most debt? (2024)

What country is in the most debt?

At the top is Japan, whose national debt has remained above 100% of its GDP for two decades, reaching 255% in 2023.

What country is #1 in debt?

At the top is Japan, whose national debt has remained above 100% of its GDP for two decades, reaching 255% in 2023.

What country owns most of our debt?

What is the lowest country debt?

Which country has the highest foreign debt?

Why is U.S. debt so high?

It began rising at a fast rate in the 1980's and was accelerated through events like the Iraq Wars and the 2008 Great Recession. Most recently, the debt made another big jump thanks to the pandemic with the federal government spending significantly more than it took in to keep the country running.

Is any country debt free?

It is also one of the most prosperous countries on the planet. And all this has been achieved without taking on any meaningful public debt. In fact, very much like Norway, Singapore has more assets than debt. Which means that de facto the Singaporean government has no net debt.

Who owes the US money?

Do any countries owe the US money?

China owes the United States $1.3 trillion, which is the most debt out of all the countries that are its debtors. Japan was the primary debt holder until 2008, but now comes in second place, with $1.2 trillion. Other countries with outstanding U.S. debt include Russia, India and South Korea.

Who owns over 70% of the U.S. debt?

At the end of September 2023, domestic creditors held 77 percent of the outstanding debt held by the public. Foreign creditors held the remaining 23 percent.

Who does China owe debt to?

[2] A report by the credit rating agency S&P Global in 2022 estimated that 79 per cent of corporate debt in China was owed by SOEs (the IMF does not break down the proportion of debt owed by SOEs).

How much debt is Russia in?

According to the Bank of Russia's estimate, external debt of the Russian Federation as of March 31, 2024 totaled $304.0 billion, having decreased by $12.8 billion, or by 4.1%, since the end of 2023.

Why is Singapore debt so high?

As one of the world's leading financial centres, our external debts are mainly deposits kept in Singapore banks by overseas banks and depositors. When borrowers take up loans, these deposits become part of our external assets. Importantly, our investment returns are more than sufficient to cover debt servicing costs.

Will the US ever get out of debt?

Why History Shows the United States Will Not Grow Out of Its Debt. The United States is approaching record levels of debt. Debt held by the public totaled 97 percent of gross domestic product (GDP) at the end of 2022 and is on track to exceed its previous all-time high, which occurred just after World II, by 2029.

What country is not in debt?

How much debt is America in?

The $34 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. Learn more about different ways to measure our national debt.

How can the US get out of debt?

How will the US pay its debt?

It's the amount of money that the U.S. government has borrowed (plus interest on those borrowings) to cover the outstanding costs it has incurred and which tax revenues aren't enough to pay off. The government borrows money to pay obligations by issuing Treasury bonds, notes, bills, and other marketable securities.

What happens if U.S. debt gets too high?

A nation saddled with debt will have less to invest in its own future. Rising debt means fewer economic opportunities for Americans. Rising debt reduces business investment and slows economic growth. It also increases expectations of higher rates of inflation and erosion of confidence in the U.S. dollar.

Is it bad for a country to be in debt?

High sovereign debt levels are associated with slower economic growth and rising default risk. Government borrowers able to issue bonds in their own country's currency are less likely to default.

How much does the US owe China?

China is one of the United States's largest creditors, owning about $859.4 billion in U.S. debt. 1 However, it does not own the most U.S. debt of any foreign country.

What countries do we owe money to?

The United States owes money to many countries, including Japan, mainland China, the U.K., Ireland, Luxembourg, Brazil, Switzerland and Belgium, among others.

How much is United States worth?

The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).

What happens if China dumps US bonds?

If China “dumped” USA treasuries, they would take a serious monetary loss. The price of the treasuries would drop, effective raising the return for those who bought the bonds.

Do countries still owe the US money from ww2?

At this time only four countries, discussed below, owe the U.S. government debts of any size arising from World War II programs to aid our allies. Other countries have paid their debts in full.