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25 economies having highest debt in the world
There are many countries, including India, that are struggling to manage their spiraling debt.
Let's take a look at economies that have some of the highest debts in the world.
Note: Debt calculated as percentage of foreign-exchange reserves and sovereign-wealth-fund assets, 2012.
Source: The Economist
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25 economies having highest debt in the world
Ukraine
Short-term gross external debt plus external debt payments: 270 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 1
Ukraine, the third-largest grain exporter in the world, was badly hit by the 2008 global economic crisis, but is now seeing signs of economic recovery.
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25 economies having highest debt in the world
Venezuela
Short-term gross external debt plus external debt payments: 260 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 2
Venezuela, which has major reserves of oil and gas, has witnessed a decline in its export industry.
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25 economies having highest debt in the world
Turkey
Short-term gross external debt plus external debt payments: 152 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 3
Turkey, one of the fastest growing economies in the world, is a major trading partner of Europe.
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25 economies having highest debt in the world
Hungary
Short-term gross external debt plus external debt payments: 149 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 4
Hungary, a developed country in Europe, attracts millions of tourists every year.
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25 economies having highest debt in the world
Poland
Short-term gross external debt plus external debt payments: 120 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 5
Poland, which has been ranked very high in terms of human development, is the sixth most populous country in the European Union.
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25 economies having highest debt in the world
Romania
Short-term gross external debt plus external debt payments: 99 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 6
Romania, which was posting high economic growth until 2009, is a regional leader in information technology and vehicle manufacturing.
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25 economies having highest debt in the world
Pakistan
Short-term gross external debt plus external debt payments: 90 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 7
Pakistan, which depends on overseas remittances for its foreign exchange, is struggling to boost its economy primarily due to internal disturbances.
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25 economies having highest debt in the world
Mexico
Short-term gross external debt plus external debt payments: 88 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 8
Mexico, one of the fastest growing economies in the world, is projected to become the seventh-largest economy in the globe by 2050.
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25 economies having highest debt in the world
Argentina
Short-term gross external debt plus external debt payments: 75 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 9
Argentina, which is ranked as a middle emerging economy, is witnessing a revival in economic growth.
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25 economies having highest debt in the world
Colombia
Short-term gross external debt plus external debt payments: 74 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 10
Colombia, the third-largest economy in South America, is a major producer of coffee, emeralds, textiles and industrial chemicals.
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25 economies having highest debt in the world
South Africa
Short-term gross external debt plus external debt payments: 70 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 11
South Africa, the largest economy in Africa, is a major producer of diamonds, minerals and foodstuff.
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25 economies having highest debt in the world
Indonesia
Short-term gross external debt plus external debt payments: 60 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 12
Indonesia, one of the largest economies in Asia, is a major producer of timber, minerals and rice.
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25 economies having highest debt in the world
Egypt
Short-term gross external debt plus external debt payments: 55 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 13
Egypt, one of the largest economies in Africa, is going through economic turmoil due to internal disturbances.
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25 economies having highest debt in the world
Vietnam
Short-term gross external debt plus external debt payments: 54 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 14
Vietnam, which is projected to be one of the fastest growing emerging economies by 2025, has recently taken measures to attract more foreign investments.
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25 economies having highest debt in the world
Chile
Short-term gross external debt plus external debt payments: 49 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 15
Chile, one of the most stable and prosperous nations in South America, has been ranked the 30th most competitive country in the world.
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25 economies having highest debt in the world
Bangladesh
Short-term gross external debt plus external debt payments: 47 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 16
Bangladesh, which depends a lot on overseas remittances for foreign reserves, is taking measures to boost economic growth.
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25 economies having highest debt in the world
India
Short-term gross external debt plus external debt payments: 45 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 17
India, one of the fastest growing economies in the world, is finding it difficult to reduce its debt.
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25 economies having highest debt in the world
Thailand
Short-term gross external debt plus external debt payments: 35 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 18
Thailand, one of the biggest tourism destinations in the world, is witnessing a boom in economic growth.
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25 economies having highest debt in the world
Brazil
Short-term gross external debt plus external debt payments: 30 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 19
Brazil, one of the fastest growing economies in the world, depends largely on exports and tourism.
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25 economies having highest debt in the world
Malaysia
Short-term gross external debt plus external debt payments: 25 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 20
Malaysia, one of the fastest growing economies in Asia, has booming tourism and export industries.
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25 economies having highest debt in the world
The Philippines
Short-term gross external debt plus external debt payments: 20 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 21
The Philippines, which has the 40th-largest economy in the world, is projected to become the 16th-largest in the globe by 2050.
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25 economies having highest debt in the world
Peru
Short-term gross external debt plus external debt payments: 15 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 22
Peru, which depends largely on exports, has been ranked high on Human Development Index.
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25 economies having highest debt in the world
Russia
Short-term gross external debt plus external debt payments: 14 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 23
Russia, which has major reserves of oil and gas, is one of the biggest economies in the world.
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25 economies having highest debt in the world
China
Short-term gross external debt plus external debt payments: 5 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 24
China, the fastest growing economy in the world, is a manufacturing powerhouse.
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25 economies having highest debt in the world
Saudi Arabia
Short-term gross external debt plus external debt payments: 2 per cent
Overall rank in debt calculated as percentage of forex reserves and SWF assets: 25
Saudi Arabia, which has one of the biggest reserves of oil and gas in the world, is taking measures to open its economy.