Together we can make a big difference. If you look at the net figure, which takes into account the government’s financial assets, as well as its debts, Singapore’s assets are actually worth more than its debts. While Jamaica’s national debt has been trending lower in recent years, corruption and a lack of government integrity continue to slow the economic growth of this Caribbean island.

In fact, the country posted a national debt-to-GDP ratio of 117% in 2019, but the COVID-19 crisis could stop such recovery in its tracks. The GDP itself could fall by 8% by the end of the year. The Cyprian government is still suffering from the impact of the 2012-2013 banking crisis.

I Can't Believe This Social Security Bonus Was So Easy, Americans Are Obsessed With New Blanket That Puts You To Sleep In Minutes, 23 New Gadgets That Will Sell Out Before the Holidays, Committee for a Responsible Federal Budget, status as an international commercial hub, multiple scandals involving the disclosure of hidden debt, one of the most repressive and corrupt countries in the world, the new Sudanese government's desire to solve the country’s economic crisis, forgiven 100 billion euros (CA$151 billion) of debt, interest rate on that debt is practically zero. Despite efforts by the Portuguese government to reduce its national debt after the 2018 recession, the COVID-19 pandemic has unfortunately stopped the country in its tracks. During the financial crisis, the state intervened in the banking sector, which plunged it into massive debts. The country had debt of US$18.9 billion (£14.3bn) in 2019. Like us on Facebook to see similar stories, Cruises can begin phased return starting Nov. 1 under new protocols, CDC says, IHOP Is Closing Around 100 Stores Due To Financial Issues Related To COVID-19. In 2010, the World Bank published a study which revealed that a 77% debt-to-GDP ratio was the tipping point, and that countries which stayed above this threshold for long periods saw significant slowdowns in economic growth. Since 1997, debt has been on the increase, reaching US$12.2 trillion (£9.3tn) in 2019, while GDP growth has stagnated.

Just tipping past the 100% mark, like many countries Belgium had to rescue one of its biggest banks, Fortis Bank, during the 2008 financial crisis. In 2010, the economy was bailed out by the EU and IMF but the bailout came with a price – substantial austerity measures. However, the majority of it (80%) is owed internally and in pounds sterling. However, the IMF has recognized Jordan’s need for financial help as it tries to deal with its US$41.75 billion (£31.7bn) debt, and at a conference in March this year donors were said to be working to provide grants and other financial support. However, it sold the bank to BNP Paribas shortly after.

The country currently has US$2.6 trillion (£2tn) of public debt which looks set to continue growing.

It currently has US$62.8 billion (£47.7bn) of debt. If Japan tops the list of countries with the highest debt-to-GDP ratio, why isn’t it on the brink of an economic crisis? Despite the fact it's currently experiencing the longest economic expansion in history, American national debt has reached rates not seen since the 1940s.

A third of Angola’s GDP comes from its oil sector, according to the World Bank, so it was hit hard by the oil price drop of 2014 – its public debt went from 39% in late 2014 to 95% of GDP in October 2019.

France’s national debt is on the rise following President Emmanuel Macron’s decision earlier this year to increase public spending, after the 'gilets jaunes' (yellow vest) protests about high taxes and low living standards. The country's debt was US$515.8 billion (£391bn) in 2019. Rising unemployment and emergency measures put in place by the French government to bolster the economy during the COVID‑19 pandemic have not been kind to the country’s finances.

Using the most recent data from the International Monetary Fund (IMF)’s World Economic Outlook (October 2019), click or scroll through to see the most indebted nations on the planet as we enter 2020.

It is worth noting that the 114.1% figure reflects the gross, rather than net, debt-to-GDP ratio.

Japan has the current highest debt-to-GDP ratio at a huge 237.7%.

The Middle Eastern country of Bahrain has an economy that’s largely dependent on oil and gas. Join us here. Its public debt totals US$16.2 billion (£12.3bn). One reason for Sudan’s debt is US economic, trade and financial sanctions, which have stymied economic development. Despite benefitting from the Heavily Indebted Poor Countries debt relief initiative in 2005 – which allowed for 100% relief of its debt by the IMF, the World Bank and African Development Fund – Zambia has been borrowing heavily since 2012.

The 2008 financial crisis led to a Cypriot property market crisis in 2012. With revenue tied to tourism and offshore banking, Barbados is facing a serious challenge maintaining its medium-term economic growth.

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. Portugal's public debt is currently US$274.1 billion (£208.1bn). Sudan was hit hard by the secession of its southern states and formation of South Sudan in 2011, which meant it lost oil reserves that had represented half of the government’s revenues.

Like us on Facebook to see similar stories. Despite the new Sudanese government's desire to solve the country’s economic crisis, the IMF reports that challenges remain daunting. That said, compared to other countries with high debt-to-GDP ratios, Lebanon's public debt is quite low at US$99.4 million (£75.5m).

Slim Patches: Do They Help You Lose Weight? To deal with the coronavirus health crisis, many countries have had no choice but to take drastic measures to support their economies.

Belize made the list of countries with the most debt largely because its geographic location and porous borders make it vulnerable to illicit trafficking and illegal immigration. In 2019, it dropped to 87.5% and the ratio is predicted to decrease to less than 75% by 2024.

The COVID-19 pandemic's blow to its tourist industry risks stagnating the country’s economy even further. Meanwhile, the government spends half of its revenues simply paying off interest from loans, while increasing public sector wages and higher interest rates have worsened the debt crisis.

Real GDP growth has reduced from 2.1% in the second quarter of 2018 to 1.8% during the same quarter of 2019.

However, Mozambique has pinned its hopes on recently discovered offshore gas reserves, which could make it a major gas exporter and improve growth. With electricity in short supply and blackouts frequent, in April the Lebanese government approved an electricity reform plan that would make the power supply more reliable, which is key to improving its chances of economic growth. Last year, after a prolonged period of high debt due to low oil prices, neighboring Saudi Arabia, Kuwait and the UAE came to Bahrain’s assistance with a $10 billion (£7.6bn) bailout pledge. According to forecasts from Bloomberg Economics, Spain’s national debt could reach 106.5% of GDP in 2020 if the government takes the necessary measures to fully compensate revenue lost during the first quarter. In June this year, Spain exited the program after successfully reducing its deficit (the difference between the government’s expenses and its revenues) even though it still owes a huge public debt of US$1.3 trillion (£1tn). For Jordan, crises in neighboring Syria and Iraq have resulted in an influx of refugees, rising social welfare costs and disruption of trade.

Hit hard by the COVID-19 pandemic, which caused 27,000 deaths nationwide by the end of April, Italy risks a drop of 8% in its GDP by the end of the year. In order to fuel economic growth and balance the books, the government has been investing in the financial technology (fintech) sector in the hope of turning Bahrain into a new fintech hub. At 176.6%, Greece’s debt-to-GDP ratio is well above the eurozone average, which was 85.9% in July 2019 according to Eurostat.

The key reasons for borrowing have been to improve roads, infrastructure, energy, railroads and telecoms.

The country was badly hit by Cyclone Idai earlier this year, which killed more than 1,000 people in Mozambique, Zimbabwe and Malawi, as well as wiping out farms and transport links. Canada recorded CA$2 trillion (US$1.5tn/£1.15tn) of public debt in 2019 and its debt-to-GDP ratio has been following a downward pattern since recording a high of 91.3% in 2015. Greece's public debt currently stands at US$371.9 billion (£282.2bn). (We haven't included countries with economies smaller than $10 billion GDP.). Currently, the economy is performing better than expected and its debt-to-GDP ratio, while still high, is falling.

Tourism, along with the export of products such as bananas, sugar, and citrus fruit, are major pillars of the country’s economy, and all have been hit hard by the COVID-19 pandemic. Despite Mozambique's status as one of the poorest and most indebted countries in the world, due in large part to multiple scandals involving the disclosure of hidden debt, the government seemed to be on track to establishing economic equilibrium by 2024. In fact, it can't spend the money in any other way as its Constitution and the Government Securities Act prevents it from doing so. This will come as a blow following four years of relative financial stability for the country, which had US$336 billion (£255.2bn) worth of public debt in 2019. The UK's debt-to-GDP ratio has been higher than 60% since 2010. The country suffered a crippling recession in 2015 and 2016 and its economy shrank by almost 7%, and in the two years since then growth has been at a sluggish rate of 1.1% a year. Since 2009, Spain has been part of the EU’s Excessive Deficit Procedure, which means that the EU has been keeping tabs on its economy to ensure it manages its budget responsibly.

However, since the bailout program ended in 2018, things are finally looking up.

There’s nothing wrong with debt per se – in fact, some of the world’s biggest economic powers have a lot of it.

…

While Singapore has one of the highest debt-to-GDP ratios in the world, it shouldn’t necessarily be cause for panic. National Debt of Japan – 234.18% Japan is the country with the highest national debt to GDP ratio. Things aren’t looking up either: the Argentinian economy, which is the second largest in South America after Brazil, is expected to shrink in 2019 and 2020. Because no one should feel alone. Credit rating firm Fitch expects the country’s debt-to-GDP ratio to reach 124.9% in 2020.

Despite these being lifted in 2017, the country is still feeling the effects. Considered one of the most repressive and corrupt countries in the world, Eritrea has a national debt-to-GDP ratio of 129.4%.

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