One of the most interesting, and not to mention important, rankings when it comes to countries is actually their level of government debt. The financial health and risks of countries around the world was recently looked at by the World Economic Forum's Global Competitiveness Survey. Here are 17 of the countries with the highest level of government debt by The Business Insider:
1. Iceland
Level of government debt: 90.2%
This country is still dealing with the collapse of their banking system.
2. Barbados
Level of government debt: 92.0%
To combat the credit card crisis that they went through eight years ago, the most developed country in the Eastern Caribbean has looked weak due to austerity measures
3. France
Level of government debt: 93.9%
The country's statistical agency says that France's economy has been recovering "in fits and starts".
4. Spain
Level of government debt: 93.9%
Spain's economy grew 3.1% year-on-year.
5. Cape Verde
Level of government debt: 95.0%
The island nation suffers from a poor natural resource base. They are vulnerable to market fluctuations because they have to import 82% of their food.
6. Belgium
Level of government debt: 99.8%
This country was labelled as the "sick man of Europe" and still has incredibly high debts today.
7. Singapore
Level of government debt: 103.8%
Even though they are one of the wealthiest countries of the world, their government is still trying to find ways to grow their economy and encourage productivity.
8. United States
Level of government debt: 104.5%
Analysts warn that the raising interest rates of this country may trigger financial crisis due to hike in repayments.
9. Bhutan
Level of government debt: 110.7%
This country's economy is strongly dependent on India for financial assistance.
10. Cyprus
Level of government debt: 112.0%
Just like Greece, Cyprus had to be bailed out by international creditors and enforce capital controls to get funding.
11. Ireland
Level of government debt: 122.8%
It still faces a huge pile of debt despite being able to exit its bailout program two years ago.
12. Portugal
Level of government debt: 128.8%
Despite being able to exit their bailout program, their GDP is still low.
13. Italy
Level of government debt: 132.5%
This country's GDP is proportional to its debt - which is the second highest in Europe.
14. Jamaica
Level of government debt: 138.9%
According to the International Monetary Fund, Jamaica has to reform its tax system before anything else.
15. Lebanon
Level of government debt: 139.7%
Because of that war against Syria, Lebanon has been lacking of an official budget for months.
16. Greece
Level of government debt: 173.8%
This country had to implement painful measures just to be able to get its loan.
17. Japan
Level of government debt: 243.2%
This country is currently experiencing a slow economic growth and the central bank has implemented negative interest rates.
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