25 Countries With The Most External Debt
Note:
This List Was Posted on december 2018, Check the UPDATED list By This Link: 25 Countries With The Most External Debt
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A recent report on the site InsiderMonkey Aprove The Wikipedia article That the American economy is experiencing a real suffering.
The report notes that we live in a world where even rich countries suffer from debt, that is also increases day by day.
External debt means what is owed to foreign creditors, and foreign creditors can be individual citizens, companies or international financial institutions, such as the World Bank and the International Monetary Fund.
So we are publishing the list of countries that have the largest amount of debt, this year:
25. Portugal — 447.02 Billion Dollar
After years of austerity and bank debt problems, the Portuguese economy rebounded strongly last year, with GDP growing at the end of last year at 2.8%.
In June, EU finance ministers announced that Excessive deficit and control procedures for Portugal. After eight years of austerity measures, Portugal has succeeded in reducing its debt to below 3.0% of GDP, which corresponds to the standards set by the European Commission.
The Portuguese economy depends on tourism, agriculture and manufacturing. But tourism is one of the most important factors in the Portuguese economy’s return to growth.
24. Turkey — 453.20 Billion Dollar
The debt crisis of 2018 is a financial crisis that has hit Turkey and continues to this day because of the international repercussions that have afflicted the country following the collapse of its currency and reaching very low levels that have never reached it.
The crisis that struck Turkey’s economic pillar has plunged the value of the Turkish lira Against the rest of the currencies led by the euro and the dollar also characterized by the crisis of high inflation and high borrowing costs in return for loan defaults.
In general, there are a number of reasons why Turkey has intervened in this crisis, including over-current account and default in the repayment of external currency debt.
23. Greece — 476.99 Billion Dollar
The Greek government has sounded the alarm since 2010, when its external debt has increased significantly. Despite persistent attempts and plans by the state to pay the debts, all of this has not worked.
The economic fall of Greece has also shown what the financial strangulation policy can cause.
Government and tax increases of destruction, affecting activity and increasing the size of debt relative to GDP rather than reducing it.
22. Finland — 483.36 Billion Dollar
Finland is relatively new in industrialization, maintaining the agricultural economy until the 1950s.
This was followed by rapid economic development as the country became a country of broad and balanced social welfare between East and West in terms of world economy and politics.
Finland consistently leads international comparisons in national performance. It leads the list of the best countries in the world in 2010 Newsweek magazine poll in terms of health, economic dynamism, education, political environment and quality of life.
Finland is the most stable country in the world and the first in the Legatum Prosperity 2009.
In 2010, Finland was the seventh most competitive country in the world according to the World Economic Forum. But as Brazil, the country has fallen into debt in order to develop it sectors.
21. Denmark — 491.61 Billion Dollar
Denmark expects the economy to slow further in 2020, according to Bloomberg news agency.
The Copenhagen government said weak international trade would hurt the shipping industry and limit exporters’ access to key markets, adding that it lowered its sales forecast to Sweden and Germany, Denmark’s biggest export market.
Thus, Denmark is likely to remain stranded in its external debts to an indefinite date.
20. India — 529 Billion Dollar
Despite its strong and developed economy, India also suffers from external debt. The World Bank said in its report on the Indian economy that private investment has declined due to rising corporate debt and rising levels of non-performing loans in the country.
The World Bank also warned in its report that any setback in resolving these issues would directly affect investments and medium-term growth on the widest scale.
India was among the top five countries on the list, with a privileged position among economies other troubled countries such as Greece, Italy, Ireland and Portugal.
19. Russia — 537.45 Billion Dollar
Russia’s debt burden has declined in contrast to the global dynamic. Although it has been very low compared to the rest of the country, Russian Central Bank President Elvira Nabielina (Wikipedia Bioghraphie) said in a report to the Russian news agency RIA Novosti.
However, the financing of the economic wheel must be done by injecting new investments into the economy rather than through borrowing, while the Russian Ministry of Finance is preparing to borrow exclusively for the purpose of investment.
18. Brazil — 556.41 Billion Dollar
The Brazilian economy is currently one of the most powerful and fastest growing economies in the world and is ranked 7th in the world as one of the most important liberal economies. Reflecting the country’s great economic, financial and banking development, which from 1930 to 1975.
But Brazil remains stuck between austerity and the demand for help from local and international banks which is something that is considered a problem for the state unless it pays its debts.
You Can Also Read: Brazil Government Gross Debt to GDP
17. Austria — 638.34 Billion Dollar
Austria is one of the richest 12 countries in the world in terms of GDP per capita, has a developed social market economy, and a high standard of living.
Until the 1980s, many major Austrian industrialists had been nationalized; in recent years, privatization had reduced state holdings to a level comparable to other European economies.
Labor movements are effectively strong in Austria and have a significant impact on labor policies. Tourism is the most important part of the national economy, along with great industrial development.
In the period from 2011 to 2016, the economic plans tried to rid the country of its debts and they have been successful and have succeeded somewhat, but they are still classified among countries with the highest external debt.
16. Sweden — 993.93 Billion Dollar
Sweden is a competitive mixed economy with a generous global welfare state financed by relatively high income taxes that ensure income distribution throughout society, a model sometimes called the North model.
In 2014, the proportion of national wealth owned by the government was 24.1%. Since 2014, the government has entered into economic crises, as many economic analysts have predicted, and the country has fallen into the external debt problem.
15. Belgium — 1.27 Trillion Dollar
Although it’s not a very big country and it has a low population, Belgium is one of the most industrialized countries in Europe.
It imports raw materials in large quantities because of the scarcity of its natural resources and then processes them for processing mainly for export.
Belgian exports account for about two-thirds of GDP and about three-quarters of foreign trade with other EU countries.
Despite its small size, low population and high per capita income, the country suffers from its external debt.
14. Singapore — 1.32 Trillion Dollar
Singapore’s economy is highly developed. Before the 1960s, Singapore was a trading country, but since then the economy has developed and became more diversified.
It has become an important financial and trade center and a hub for transportation. Tourism is also of great importance.
Singapore’s large economic jump required huge sums of money, and its external debts have soared while the country is currently trying to pay back those debts.
13. Australia — 1.48 Trillion Dollar
There has been a lot of news that the Australian economy is booming despite the escalating US-China trade dispute and rising household debt levels.
The RBA has previously warned that sharply escalating trade tensions between the US and China pose an external threat to Australia’s economic expansion. Which has been going on for more than 25 years, is likely to fizzle out as Australian economic activity is slowing from the services sector. Which is the biggest engine of economic growth.
At the end, the Australian economy may not be able to survive amid growing challenges facing both at the level of internal or external, in particular with renewed signs that demonstrate the suffering of the service sector in the country and thus remains the burden of external debt on the Australian Government.
12. Switzerland — 1.82 Trillion Dollar
Switzerland is one of the few European countries to adhere to the European Union’s 20-year budget policy, which rarely works.
While the Swiss public debt is barely 33% of GDP, the average EU debt (28%) exceeds 85%, and the Swiss government is progressing almost every year with a new plan to cut public expenditure.
Does this indicate a fiscal policy that may be able to get rid of its external debt any soon?
11. China — 1.84 Trillion Dollar
China is the second largest economy in the world but suffers from a serious debt problem, which experts fear could cause either a financial crisis or a severe economic slowdown that hits China’s economy and even the world’s.
China’s debt in the first quarter of 2016 reached 25 trillion US dollars to 237 percent of GDP after the debt-to-GDP ratio was 148 percent in 2007. According to IMF estimates, high debt and exposure rates China is more on the global financial markets than it is at high risk. China is borrowing from its banks and some non-bank institutions, but most of its debt has been borrowed from local banks and few countries.
The Top 10 Are on the Original List on Best25.net;
