Brunei is one of the countries with the lowest debt. It has a debt to GDP ratio of 2.46 percent among a population of 439,000 people, which makes it the world's country with the lowest debt. Brunei is a very small country located in southeast Asia.
Japan, with its population of 127,185,332, has the highest national debt in the world at 234.18% of its GDP, followed by Greece at 181.78%.
Having no more debt means, that the government does not have to pay interest anymore. This can mean, that there is more money free to spend on other things like infrastructure or welfare.
The Bank's financial reserves come from several sources - from funds raised in the financial markets, from earnings on its investments, from fees paid in by member countries, from contributions made by members (particularly the wealthier ones) and from borrowing countries themselves when they pay back their loans.
The public debt of Japan has continued to rise in response to a number of challenges, including but not limited to the Global Financial Crisis in 2007-08, the Tōhoku Earthquake in 2011, and the COVID-19 pandemic beginning in late 2019 which also held ramifications for Tokyo's hosting of the 2020 Summer Olympics.
Beijing: China seeks to become the world's next superpower, dethroning the United States and tearing apart the rules-based international system that American and its allies have built since the end of World War 2, according to a report published in The National Interest.
1. China. And, to one's surprise, China will be the most powerful economy in the world in 2050.
Foreign holders of United States treasury debt
Of the total 7.55 trillion held by foreign countries, Japan and Mainland China held the greatest portions. China held 1.05 trillion U.S. dollars in U.S. securities. Japan held 1.3 trillion U.S. dollars worth.
As on 31 March 2021, India had a total multilateral debt of $69.7 billion. The country's major creditors are the IDA, ADB, and IBRD. The IFAD and a few other multilateral creditors hold the remaining portion of the multilateral debt.
Foreign holdings
Including both private and public debt holders, the top three December 2020 national holders of American public debt are Japan ($1.2 trillion or 17.7%), China ($1.1 trillion or 15.2%), and the United Kingdom ($0.4 trillion or 6.2%).
Djibouti, Laos, Zambia and Kyrgyzstan have debts to China equivalent to at least 20% of their annual GDP. Much of the debt owed to China relates to large infrastructure projects like roads, railways and ports, and also to the mining and energy industry, under President Xi Jinping's Belt and Road Initiative.
In the long-term, the Russia Government Debt to GDP is projected to trend around 17.90 percent of GDP in 2022 and 17.50 percent of GDP in 2023, according to our econometric models.
Outstanding government debt ballooned from 8.2 trillion pesos in 2019 to 10.2 trillion pesos in 2020 as the state ran big deficits to battle the pandemic. Through the first three quarters of 2021, government debt has increased again to 11.9 trillion pesos.
Pakistan's total debt and liabilities jumped to the record PKR 50.5 trillion at the end of September 2021, an addition of PKR 20.7 trillion in the past 39 months. There was an increase of nearly 70 per cent in total debt of the country, Express Tribune reported.
The federal net debt rose by $253.4 billion in 2020 to reach $942.5 billion or 42.7% of GDP, compared with 29.8% in 2019.
In terms of value, real GDP for the year 2021-22 is estimated at INR 147.54 trillion (US$1.98 trillion) as against as against the provisional GDP estimate of INR 135.13 trillion (US$1.81 trillion) for FY 2020-21.
Repercussions. The repercussions for China of such an offloading would be worse. An excess supply of U.S. dollars would lead to a decline in USD rates, making RMB valuations higher. It would increase the cost of Chinese products, making them lose their competitive price advantage.
The Chinese government uses U.S. dollars it has on hand to buy Treasurys. It receives these dollars from Chinese companies that receive them as payments for their exports. China's demand for Treasurys helps keep U.S. interest rates low. It allows the U.S. Treasury to borrow more at low rates.
At the end of 2020, China's foreign debt, including U.S. dollar debt, stood at roughly $2.4 trillion. Corporate debt is $27 trillion, while the country's total public debt exceeds 300 percent of GDP.
But it was a very good year for wealthy Indians. A soaring stock market propelled the combined wealth of members of the 2021 Forbes list of India's 100 Richest to a record $775 billion, after adding $257 billion — a 50% rise — in the past 12 months.
The report found that China's wealth rose from $7 trillion in 2000 to $120 trillion in 2020. ... The U.S., on the other hand, saw its wealth more than double to $90 trillion in the same period.