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| USA President Biden |
Global public debt has tripled since the mid 1970s and several big economies top the list of countries with the highest external debt. US president Joe Biden. His country has the highest debt worldwide. Which countries have the highest debt? 1. The US 2. United Kingdom (UK) 3. France 4. Germany 5. Japan 6. Netherlands Which African countries have the highest IMF debt? Which African countries have the highest Chinese debt? + View more The top nations with the greatest debt-to-gross domestic product (GDP) ratios are the United States of America (USA) and Japan. 1. The US
The US tops the list of world countries with the highest external debt. According to the US Department of the Treasury, the country’s external debt stood at $26,467,035 million as of March 2024, compared with $25,984.6 billion in the previous quarter. Data showed that the powerful nation registered a budget deficit of $237.6 billion during the period. USA Facts reported that Japan ($1.1 trillion), China ($749.0 billion), the United Kingdom ($690.2 billion), Luxembourg ($373.5 billion), and Canada ($328.7 billion) are the top five nations the US owes money. 2. United Kingdom (UK) Data from the UK’s Office for National Statistics showed its debt, excluding the Bank of England, was 91.6% of GDP as of June 2024. The UK’s Public sector net debt, excluding the Bank of England (BoE), was £2,524.4 billion at the end of June 2024. 3. France In 2023, France’s external debt represented 244.9% of the nation’s nominal GDP, up from 244% in the previous year. The country’s account deficit stood at $3.4 billion (KSh 438.6 billion) in May 2024. CEIC data revealed the country owes $7,806,404.8 million to external lenders. 4. Germany Deutsche Bundesbank reported that Germany’s external debt was €6.2 trillion (KSh 873.9 trillion) in the first quarter of 2024. “Germany’s gross external debt amounted to €6.2 trillion at the end of the first quarter of 2024; relative to GDP, it increased in the period under review,” the bank stated. In December 2021, the debt reached an all-time high of $6,989.7 billion and a record low of $1,851.3 billion in June 1999. 5. Japan In its 2024 budget, Japan’s Ministry of Finance (MoF) noted that the national debt service cost the country 27 trillion yen. The Asian nation’s net liabilities amounted to 119% of GDP in 2022. Its external debt decreased to $4428.3 billion in March 2024 from $4522.8 billion in the previous quarter. 6. Netherlands The Netherlands’ external debt decreased from $4,275.5 billion in the previous quarter to $4,262.7 billion in March 2024. Netherlands debt represents 62.5% of the European country’s GDP. The main debt channels are bank loans, Treasury bills and bonds. Which African countries have the highest IMF debt? The International Monetary Fund (IMF) is one of the biggest lenders to African countries, but its loans come with conditions. Egypt tops the list of African countries with the highest IMF debt, with an outstanding loan of $11,272,939,177 (KSh 1.45 trillion). Kenya is also one of the biggest debtors to the IMF. Which African countries have the highest Chinese debt? China accounts for 12% (KSh 94 trillion) of the continent’s external debt. Due to the extent of Chinese lending, the World Bank noted that seven African nations were either in debt distress or at risk of debt distress. Angola tops the list of African nations with the highest Chinese debt.
by Japhet Ruto