No chance of payment. Top 5 countries with the highest public debt. Who owe the countries of the world? The biggest public debt

MOSCOW, 13 October- RIA Novosti, Alexander Lesnykh. At the beginning of this year, global debt exceeded $ 233 trillion. According to the World Bank (WB), this is 288 percent more than global GDP. A significant "contribution" to the current situation was made by the states, which, despite warnings from international financial and economic organizations, continue to collect loans in the pursuit of a better life. Which countries are leading this anti-rating - in the material of RIA Novosti.

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Nominally, the US is in the lead in terms of public debt. This year, the numbers on a special meter installed in Manhattan set a new record: Washington owes the world almost $ 21.5 trillion.

However, taking into account the gross domestic product, the situation is different. In fifth place in the anti-rating is Portugal, whose national debt exceeds GDP ($ 217 billion) by almost a quarter.

The roots of the country's current economic problems go back to the 1990s. Having become part of the European Union and switched to settlements in euros, Portugal lost the ability to support the textile industry, one of the key sectors of the economy, due to a weak currency. As a result, domestic producers lost the competition to the Chinese with their cheap labor.

As a result, there is an increase in unemployment and massive emigration: now more than 50 thousand Portuguese leave for work abroad a year.

By 2011, the country was already on the verge of default and had to save the economy by the efforts of the entire European Union and the IMF. After agreeing on the program of economic consolidation, Lisbon was allocated a loan of 76 billion dollars.

It is worth noting that the program of economic reforms, which involved recapitalizing the banking sector, reducing the budget deficit and social spending, was adopted only a year later, after the current government refused to introduce additional austerity measures in March 2010 and was eventually dissolved.

By 2017, the economic situation in Portugal has stabilized: GDP grew by 2.7%, unemployment fell to 8.8% - which is less than the European average.

However, last year, the national debt increased by 1.65 billion euros, and experts from the IMF predict that in the medium term, the growth of the Portuguese economy will slow down to 1.8%. In such conditions, there is no reason to hope for the repayment of debts.

Arivederci

The fourth place is occupied by another country in the eurozone - Italy with a national debt of 131% of the gross domestic product, which in 2017 amounted to $ 1.9 trillion.

Analysts note that in 2019, when Italian Mario Draghi leaves the post of head of the European Central Bank (ECB), Rome will lose a source of cheap loans. As a result, the country will not be able to service its national debt and will be forced to declare a default, which, in turn, will lead to a large-scale crisis of the entire global financial system.

The main problem with the Italian economy is that it is based on small family businesses that are unable to compete with multinational corporations. This is the main reason for the country's low economic growth: in 2014, GDP increased by only 0.1%, in 2015 - by 1%, in 2016 - by 0.9%, in 2017 - by 1.5 %.

The European sanctions against Russia also affected: according to the former Italian senator Roberto Moore, because of them, the budget loses about seven million euros every day.

Draconian taxes on business add fuel to the fire, preventing entrepreneurs from modernizing production: in large cities, taxes go up to 70%.

Echo of war

In third place is Lebanon. Before the civil war broke out in Syria in 2011, Lebanon thrived on the export of goods to Iraq, Jordan, the Gulf countries and high tourist flows. According to the IMF forecasts, by 2015 the country was to reach the GDP index of 20 thousand dollars per capita and become one of the economic heavyweights of the Middle East region.

However, the war in neighboring Syria changed everything. Imports of goods rose sharply, widening the trade deficit. In addition, a stream of refugees poured into Lebanon - in just three years, about 1.2 million Syrians arrived in the country.

In addition to the fact that they have to spend a lot of money on their maintenance, internally displaced persons agree to any work for mere pittance. As a result, more Lebanese are losing their jobs and falling into poverty.

On top of that, in mid-2013, extremists staged a series of terrorist attacks in Lebanon with threats against foreigners. As a result, the flow of tourists decreased by 80%.

A sharp decline in revenues forced the government to borrow, and last year Lebanon's national debt reached 149% of GDP.

From princes to mud

Prior to joining the European Union, the Greek government tried not to attract external loans due to the high rate for their servicing. However, after joining the EU in 2001, Athens was able to afford cheaper loans in euros.

During the same period, there was a massive privatization of state-owned enterprises, including the country's five main banks. With the accession to the eurozone, employment in the service sector has increased in Greece, and production, in particular at quite successful shipyards, has decreased.

Such an economic policy caused an imbalance in the budget, and by 2009 the national debt of Athens exceeded 115% of GDP (about 300 billion euros). Of course, Brussels could not afford a default and a large-scale crisis in Greece, and not only for financial reasons: this would have dealt a serious reputational blow to the EU.

As a result, the country was pulled out of the unenviable position by joint efforts of the European Union and the IMF. In 2010-2011, decisions were made to provide Athens with two financial assistance programs.

The population did not support the austerity measures, which included, among other things, cuts in social benefits, and the ruling New Democracy party lost the elections in 2015. Six months later, there was a technical default due to non-payment of debt to the International Monetary Fund, while the economy is developing very slowly: 0.4% in 2014, 1.4% in 2015, 0.9% in 2016 and 1.7 % in 2017. In addition, the number of retirees is growing and more money needs to be spent on social benefits.

The only thing that saves Tokyo from default is that most of the debt is owned by domestic individuals and legal entities, not foreign speculators. In addition, the state has quite large reserves.

And yet, the national debt, which exceeds the GDP by 2.5 times, hangs like a sword of Damocles over the country. One of the most troubling calls for the Japanese export-oriented economy is the nearly $ 9 billion foreign trade deficit. This figure was recorded at the beginning of this year.

Given forecasts of a slowdown in global trade growth, Tokyo has less time to deal with its national debt. Nobody knows what to do yet.

Currently, many Russians are interested in information concerning the external debt of not only our state, but also other countries of the world. Which of them has the lowest external debt and which has the highest? Our experts will help you sort out these issues.

External debt

Before compiling a rating of the countries of the world in terms of the size and size of external debt, one should consider this concept itself. It is established primarily at the legislative level. So, in our country, the Budget Code operates, according to which the external debt of any country to other states is understood as financial credit debt in foreign currency.

In the dictionary of economic terms, this concept is considered in the form of total monetary obligations that the borrowing country must return within a certain period to the creditor state. The amount of such credit debt will include both the loan itself and the interest for its use, requiring payments. For a country, this amount of debt includes liabilities:

• international banks;
• governments of other countries of the world;
• private banks owned by foreigners.

External debt is of two types:

1. Current (the one that needs to be returned to foreign creditors in the current year, that is, in 2019).
2. General government (accumulated over several years together with unpaid interest, it should be reimbursed in subsequent years).

To assess the value of the external debt of a particular state, specialists working in the field of economics and finance use the ratio between the debt owed to foreign creditors and the gross domestic product of the debtor country itself. In this case, GDP (gross domestic product) acts as a macroeconomic indicator, representing the total amount of everything that a country earned in a year on produced goods and services.

External debt indicators

Experts argue that external debt affects not only the economic sphere of the borrowing country, but can also lead to long-term political dependence. This is determined by the critical level of overall debt indicators:

1. The country's solvency (the ability to timely fulfill all obligations undertaken using its own resources), which includes:
   • dependence on export goods;
   • the relation to the state's GDP (that is, to the main base of household resources);
   • repayment of debt obligations at the expense of state budget revenues.
2. Liquidity (the ability of existing assets, for example, securities, to quickly sell at market prices), taking into account:
   • the term of the debt (short-term or for a long period of time);
   • sufficiency of international reserves;
   • monitoring the risks of default on debt obligations.
3. Indicators for the public sector, namely:
   • the impact of tax revenues on government debt;
   • changes in the exchange rate of foreign currency to home.

Thanks to these indicators, which affect almost all spheres of the economy, it is possible to calculate how quickly the debtor state will return the money borrowed from other countries of the world. For example, the ratio of debt to export earnings, which does not exceed 200%, testifies to a safe level of debt (if this figure is above 275%, then the external debt can be partially written off as unpaid).

In relation to local GDP, the critical level of debt will be considered from 60% (according to the IMF calculations) and from 80-100% (according to the World Bank calculations). Exceeding this limit indicates that the repayment of financial debt from other countries of the world is due to the transfer of resources. Instead of producing goods and services for the internal needs of the state, they are being produced for export trade.

Also, to predict the return of debt obligations with interest, you should take into account:

• the ratio of these obligations (they may be due to a number of preferential terms);
• the degree of openness of the external capital market;
• real exchange rate regime;
• the likelihood of an economic crisis.

If the country has limited access to its own and international reserves, then there can be no talk of any solvency. Therefore, many developing countries have difficulties in repaying cash loans. They use all the profits from domestic production to pay off their external debt, and the current costs of their own activities are taken from new credit receipts.

Positive aspects of the external debt of the state from the countries of the world

It would seem that credit financial debt to other countries does not carry anything good for the state - it is ineffective use of the money received on credit, servicing of credit obligations, economic dependence on the creditor country, leading to a change in political relations between states. But experts in economics and finance also find positive aspects in external debt:

• any foreign loan improves the economic situation of the borrowing country;
• the inflow of foreign capital helps in the development of certain areas of the economy (for example, transport, energy, etc.);
• the general budget of the state is being restored.

But these positive aspects begin to work only in the case of efficient allocation of borrowed funds.

External Debt Ranking of the World Countries

Experts working in the World Banking System annually calculate all possible prospects for repaying external debt for countries around the world. Also in the sphere of their activities is the compilation of rating tables for external debt with a miscalculation of the percentage ratio of this type of debt to nominal GDP. For 2019, the top 10 countries of the world have been compiled with the least external debt:

As a result of the analysis of these tables, we can conclude that there are surprisingly few countries without external debt - only three (Brunei, Macau and the Republic of Palau), in contrast to other states that owe almost the entire world.

There are countries that are both borrowers and lenders in relation to each other. So why don't they offset their financial debts? But this depends not only on the political relationship between them, but also on the terms of the loan - maturity dates, interest payments, etc. After all, offsetting such debts can not only nullify debts, but also seriously affect the working capital of state financial companies. This situation, in turn, can lead to a crisis in the economies of both states.

The national debt of the countries of the world is the dominant factor in destabilizing not only the financial situation in the world, but also the economic one. The only way out of the situation is to look for ways to reduce world debt, with a decrease in its growth rates, inclusive. According to world analysts, while the first world crisis arose as a result of the active growth of the debts of the financial sector, corporate economy and the household, the crisis of the 21st century will be caused precisely by the growth of government debts in most countries of the world. Financial market experts say with concern that the debt obligations of countries by 2015 have all the chances to turn into simple paper.

What do the 2014 statistics say?

The national debt of the countries of the world as of the end of 2014 has frightening volumes.

• Japan - public debt corresponds to 234% of GDP.
• Greece - 183%.
• Portugal - 148%
• Italy - 139%
• Belgium - 135%.

The analytical world company McKinsey has contributed to the top ten countries in terms of public debt, Spain (132%) and Ireland (115%), Singapore (105%), France (104%) and the UK (92%). An interesting fact is that America in this rating got 11th place with 89% of GDP. It is also worth noting that, in accordance with official state statistics, back in 2011, the state passed the mark of 100% of GDP. As for the 2013 statistics, the amount of debt increased to 106.6%. According to preliminary calculations, in 2014 America's debt should be at 109.9%. At the moment, the countries are pursuing an active policy to reduce public debt. The effectiveness of the measures and the final indicators of 2015 can be assessed only in December.

Lowest public debt ratios

• Norway - Public debt is 34% of GDP.
• Colombia - 32%
• China - 31%.
• Australia - 31%.
• Indonesia - 22%

Countries that have practically no debt and whose debt is less than 20% of GDP are Peru (19%) and Argentina (19%), Chile (15%), Russia (9%) and Saudi Arabia (3%) ...

The relationship between national debt and the level of development of countries around the world

The level of public debt of the countries of the world makes it possible to establish a certain relationship between the volume of debt and the level of development of the state. It should be said that least of all funds are attracted to close the state, which are at the stage of active development. In countries that are considered economically developed, it occurs much more often, and they get into debt systematically. If we consider debt not as a percentage of GDP, but in monetary terms, America is in the lead in this category. Its national debt has long passed the $ 18 trillion limit. World economic analysts are talking about an increase in debt by the end of 2015 to $ 19 trillion. Japan ranks second in the category, with $ 10.5 trillion in debt. This is followed by China - 5.5 trillion. These three countries account for about 58-60% of the total global debt. At the same time, Russia, which back in mid-2014 had a debt corresponding to 0.1% of the world, today is included in the "junk rating" of countries for which it is almost impossible to obtain a loan on the international market.

Dynamics of the situation

The national debt of the countries of the world has a positive trend, it is systematically increasing. In the period from 2007 to 2014 alone, not only the PIGS countries, which pose a threat to the EU (Portugal, Ireland, Italy, Greece and Spain), but also the leaders of the international market, in particular Japan, Italy and France, managed to increase their debts several times. America has surpassed all the states of the PIGS group. According to preliminary forecasts, the situation in the world will only escalate. An absolute and relative buildup of debt is likely to be characteristic of countries with a high level of economic development.

Why do advanced economies have unaffordable public debts?

The reason for the phenomenon is that the pace of economic growth does not allow not only repaying, but also servicing the borrowed loans. For the majority, economically not only zero, but also negative rates of economic development are characteristic. After a thorough analysis of the situation, McKinsey experts came to the conclusion that countries such as Spain and Japan, Italy, Portugal, Great Britain and France will be the hardest to refuse to receive a loan to refinance their debts. Experts see the solution to the problem in a comprehensive restructuring of the economy, by completely decoupling it from government debt.

Trends and Observations

• The more public debt a country has, the more concepts such as democracy and liberalism flourish in its politics.
• Developed countries spend funds from the budget without being guided by the actual state of the economy. To put it in simple terms, “live beyond our means”. The more developed a country is considered to be, the more external debt it has.
• The country's economic development is fully consistent with the growth in debt. The processes run in parallel and are almost identical.

Strange statistics, or What shows the external public debt of the countries of the world

The above observations from the Der Spiegel specialists are confirmed by the actual situation in the world. Consider major international alliances. So, the "Big Seven", in theory, united the economies of the most powerful countries in the world. If we compare the GDP and national debt of the countries of the world from this alliance, we can see the following indicators:

• Great Britain - the volume of indebtedness corresponds to 92% of GDP.
• Germany - 72%
• Canada - 86%
• Italy - 139%
• USA - 109.9%
• France - 98%.
• Japan - 234%

Comparing these indicators with those of the BRICS countries, experts draw certain conclusions. Thus, Russia (9% of GDP), Brazil (65% of GDP), China (31% of GDP) and South Africa (50% of GDP) look more "economically healthy" against the background of world leaders. It should be said here that at least 0.5 billion people live on the territory of the G7 states, who consume many times more goods and services than about 3 billion people in the BRICS countries.

What does the analysis of the situation in 2015 say?

It is problematic to assess the national debt of the countries of the world in real time, since official data will be presented only by the end of 2015. According to preliminary estimates, taking into account the fact that the growth of debts due to the economic situation in the world continues at an active pace, about 6.3% more funds will be spent on servicing them this year. Bloomberg representatives report that the strongest countries in the world are actively refinancing their debts through new loans from the IMF. From official sources it became known that by the end of 2015, the BRICS countries and the G7 states must pay off debt obligations in the amount of $ 6.96 trillion. One can hear opinions from experts that 2015 will be favorable, and the amount of debts will decrease, which at this stage seems to be an unrealistic forecast.

The US government, or national, debt is the amount that America owes its creditors. The United States has the largest public debt in the world.

Public debt of individual countries of the world

General information about the US government debt

At the moment, the national debt of the United States has exceeded the $ 22 trillion mark. The amount is huge and psychologically difficult for ordinary Americans to perceive, especially since it is constantly and rapidly growing. The US Treasury Department is monitoring the changes in the national debt. The US national debt has the following structure:

• 27% - intergovernmental debt to various state-owned companies (pension funds, for example);
• 33% - public debt to various individuals and banks;
• 40% - debt to foreign creditors.

US Government Loan Ratio Table (August 2019)

China and Japan are the largest holders of US government bonds totaling $ 2 trillion 210 billion. The average yield on all securities they own is 2.6% per annum. Russia has reduced the number of American securities in its assets, and today it has invested only $ 14 billion in the US economy.

The United States secures its national debt with securities issued by the Treasury. Anyone can buy them at one of three hundred annual auctions. Although bonds are the least profitable, they are the most reliable securities. supported by the property and assets of the state.

U.S. Treasury Securities:

1. Bills of exchange are the most unpopular because their validity period is less than a year, and therefore the percentage on them is the lowest.
2. Medium-term bonds for a period of one to 10 years with an interest rate of 0.3 to 2.6% per annum.
3. Long-term bonds are valid from 10 to 30 years and have a yield of 3.2% per annum.
4. Treasury securities at 3.2% per annum and for a period of 30 years are the most reliable, since the state pays additional amounts on them to compensate for inflation.

US government debt and other economic indicators

However, it is incorrect to consider only the public debt figures without reference to other indicators. If we compare debt to gross domestic product, then this is 110% of total GDP, which is actually not the highest indicator. For example, Japan's national debt is more than 200% of GDP, and its economy is one of the five strongest in the world.

Ratio of public debt to GDP of individual countries in%

Speaking about the public debt, it is indicative of the recalculation of the external debt of the state for the population of the country. Every US citizen owes more than $ 67,470,000. For comparison: for Africans it is only 60-100 dollars per person, and in Switzerland 27 thousand dollars in American currency.

Changes in the US national debt in the 20th century

The national debt of the American state did not arise yesterday. The United States has been running a budget deficit since the 1960s. and are forced to borrow funds from private lenders and foreign governments.

Table of changes in the US government debt

The percentage of America's public debt to its GDP peaked in 1946 at 121%. This situation was the result of the country's huge military spending during the Second World War. Further dynamic development of the country's economy made it possible to reduce this figure to 36% by the beginning of the 1980s. However, then the growth of national debt was already much faster than economic growth. An important role here was played by huge investments in the military-industrial complex, and participation in several armed conflicts (Iraq, Syria, Yemen). Therefore, by 2012, the volume of public debt again exceeded 100% of GDP. Today this figure is 110%.

In 2016. then still the US presidential candidate Donald Trump promised to reduce the size of the national debt within 8 years. However, during his tenure in power, the country's national debt increased by 10%.

Experts say that in the future, the US national debt will grow steadily. But in America there is a law according to which the loans of the country's government are limited by the so-called public debt ceiling. Today, the United States can make loans for any amount up to September 2019, the indicator of public debt for that day will be considered the ceiling. Most likely, the United States authorities will solve the problem traditionally - by raising the ceiling of their national debt.

Why is America being credited?

A combination of factors is at work.

1. The USA has been the most economically developed power in the world for over a century. The whole world consumes products made in this country. Oil refining, biochemistry, pharmaceuticals, machine and aircraft construction, energy, high technologies, entertainment and services are actively developing, and with them GDP is growing by an average of 3% per year.
2. The United States is home to many of the world's most famous companies, whose capitalization more than covers the country's national debt. For example, the total capitalization of only six American companies Facebook, Alphabet, Microisoft, Amazon, Apple and Berkshire hathaway is $ 3,400 billion, which is equal to the US debt to Japan and China. And these are only 6 enterprises out of 30, whose capitalization exceeds $ 100 billion.

Capitalization of only 6 American companies covers the total US debt to Japan and China.

1. The USA is one of the most visited countries by tourists. About 70 million people a year come here to see New York, Washington, Las Vegas and Disneyland.
2. Interest rates on loans in the United States are among the lowest, and the inflation rate is only 2%, which makes this country very attractive for everyone who wants to start a business abroad. Every year the population of the American States increases by 1.2 million people, and it should be noted that not only residents of South America come here. A huge number of entrepreneurs move to the States in order to invest in the economy of the new country of residence.
3. People go to America to get an education, one of the best and highly rated in all countries of the world. And foreigners are ready to pay a lot of money for this education.
4. Recently, the United States has been actively returning its production facilities from Asian countries to their homeland. Now it is more profitable to build a high-tech automatic plant, which will be serviced by only a few engineers, on its territory, where energy is inexpensive and tax rates are preferential, than to keep a huge staff of workers on the other side of the world, whose work is no longer the cheapest.
5. Agriculture is also quite profitable in this country. In terms of grain exports, the United States occupies a leading position in the world. Poultry semi-finished products are also supplied to many foreign countries.
6. Not to mention the music and film industries, which no one can overtake.
7. The US government debt is calculated in that country's currency. The dollar is the most popular currency in the world, which is most often used for conducting monetary transactions.

It is a mistake to think that a large external debt of the state is bad. Lending rules at the international level do not differ from lending to individuals. It is much easier to obtain borrowed funds for those countries that have a strong economy, rich mineral resources, a high standard of living and a favorable investment environment. Such borrowers are guaranteed to return the funds invested in the bonds, and all interest due to the lender. The worse the situation in the country, the more cautious the attitude of creditors towards it. The United States has the highest public debt indicators, however, the economy of this state is one of the most stable and strong in the world, so there is little doubt that the country will fulfill its obligations to creditors.

The Americans themselves are ambivalent about the debts of their government. Naturally, many of them are afraid of a situation in which the need to pay off the national debt will result in higher taxes and tariffs, a reduction in wages and social benefits. But there are also those who are sure that they will not have to repay debts at all, tk. no country in the world will go into conflict with such a strong military power.

What is the US spending so much money on?

Speaking about the national debt of the country, it is important to consider what its government spends such huge sums of money on. America's top spending items are:

1. Medicine. About $ 1.1 trillion is spent on various programs in this area:

• medical care for citizens with certain diseases, as well as for pensioners over 65;
• qualified assistance to the poor.

1. Financial support and social protection programs for pensioners and disabled people. About $ 1 trillion is allocated for such events.
2. Defense. America spends 1.3 trillion dollars to defend its territory and participate in various military operations abroad.
3. Other significant spending: public transport, education, international politics.

New data on public debt of the countries of the world in 2017 has been calculated. Taking into account the uniqueness of the economy of each country, for a more objective comparison, the national public debt is compared with the gross domestic product (GDP).

There are two types of public debt:

The current one is the one that needs to be returned to foreign creditors in the current year, that is, in 2017. The general state - accumulated over several years together with unpaid interest, it should be reimbursed in subsequent years.

To estimate the size of the national debt of a particular state, specialists working in the field of economics and finance use the ratio between credit debt and the gross domestic product of the debtor country itself. In this case, GDP (gross domestic product) acts as a macroeconomic indicator, representing the total amount of everything that a country earned in a year on produced goods and services.

So, in 2016, Japan's public debt was about 248.1% of GDP. This means that in order to fully pay off the public debt, the entire population of the country must work for 2.5 years, completely abandoning the use of GDP for other purposes, for example, as their own consumption. In fact, during this period, new debt will arise, since a complete refusal from own consumption is impossible. On the other hand, Japan is, along with China, the largest US creditor. And in mutual settlement, Japan's position may be better than the United States.

It is worth noting that the US economy, with the largest public debt in the world and the largest GDP in the ratio, is only in 9th place.

Experts argue that public debt affects not only the economic sphere of the borrowing country, but can also lead to long-term political dependence. This is determined by the critical level of overall debt indicators.

Below are the values ​​of public debt (gross, without counterclaims of other states) in relation to GDP. This does not take into account the obligations of states on pension insurance, health insurance, health care and other types of financing. Including hidden debt.

Public debt of the countries of the world 2017 as a percentage of GDP:

1 Japan - 250.91
2 Lebanon - 147.62
3 Italy - 131.71
4 Eritrea - 127.5
5 Portugal - 127.33
6 Cape Verde - 122.25
7 Bhutan - 122.12
8 Jamaica - 116.07
9 US - 107.48
10 Barbados - 106.58
11 Belgium - 106.52
12 Gambia - 99.24
13 Libya - 98.94
14 France - 98.84
15 Spain - 98.47
16Singapore - 99.93
17 Maldives - 95.84
18 Cyprus - 95.32
19 Iraq - 95.22
20 Mauritania - 94.58
21 Sao Tome and Principe - 93.77
22 Ukraine - 92.31
23 Belize - 92.04
24 Bahrain - 92.01
25 Canada - 90.56
26 Croatia - 88.99
27 Egypt - 88.82
28 Antigua and Barbuda - 88.08
29 UK - 87.92
30 Saint Lucia - 87.87
31 Jordan - 87.45
32 Ireland - 84.6
33 Austria - 83.85
34 Mozambique - 82.02
35 Slovenia - 81.78
36 Saint Vincent and the Grenadines - 81.73
37 Dominica - 81.28
38 Brazil - 80.49
39 Grenada - 78.26
40 Serbia - 77.94
41 Montenegro - 76.99
42 Sri Lanka - 74.83
43 Hungary - 74.46
44 Kyrgyzstan - 73.52
45 Ghana - 72.21
46 Trinidad and Tobago - 69.4
47 Republic of the Congo - 68.99
48 Belarus - 68.89
49 Angola - 68.65
50 Albania - 67.77
51 Israel - 67.69
52 Bahamas - 67.56
53 Malawi - 67.45
54 Finland - 66.25
55 Laos - 66.11
56 Germany - 65.88
57 India - 65.56
58 Netherlands - 64.89
59 Vietnam - 64.82
60 Uruguay - 64.01
61 Morocco - 63.97
62 Pakistan - 63.66
Togo 63 - 63.13
64 El Salvador - 61.79
65 Djibouti - 61.33
66 Argentina - 60.87
67 Malta - 60.78
68 Tunisia - 59.27
69 Ethiopia - 59.03
70 Zambia - 58.61
71 Lesotho - 58.5
72 Seychelles - 58.49
73 Yemen - 58.15
74 Puerto Rico - 57.7
75 Mauritius - 57.56
76 Samoa - 57.01
77 Qatar - 56.38
78 Senegal - 56.22
79 Saint Kitts and Nevis - 55.98
80 Malaysia - 54.96
81 Kenya - 54.96
82 Mexico - 54.89
83 Zimbabwe - 54.89
84 Tajikistan - 54.43
85 Guyana - 54.1
86 Poland - 52.85
87 Iceland - 52.63
88 Sudan - 52.43
89 Sierra Leone - 52.14
90 Central African Republic - 52.11
91 South Africa - 52.11
92 Slovakia - 51.89
93 Honduras - 49.76
94 Gabon - 49.52
95 China - 49.32
96 Armenia - 48.93
97 Bolivia - 48.28
98 Colombia - 47.99
99 Niger - 47.85
100 Denmark - 47.73

175 Russia - 19.43

Russia's external debt to other countries for 2017-2018

Financial experts have calculated that, according to the results of the last quarter of 2017, Russia's external debt is 537.5 billion US dollars. But at the same time they reassure that even such an amount will not be able to lead our country to default, although some companies risk going bankrupt.

The most significant debt is owed by Russia to the United States and EU states. Experts clarify that in 2017, payments on Russia's external debt amounted to $ 12.5 billion. Due to devaluation (depreciation of the national currency), the total debt increases, although debts are paid constantly. In 2018, almost all budgetary funds will go to pay off the external public debt. In this regard, Russian business will face a decrease in income (as a result - job cuts, a decrease in tax payments, an increase in the share of imports).

Russia is gradually changing its status: from a debtor to a creditor. According to the financial statements, the positions of the private sector in terms of external assets equaled the liabilities. The problem remains with balancing the budget of our country, which, as you know, is based on the oil price policy in rubles.

Belarus to pay $ 23.5 billion in public debt by 2025

In 2019-2025, Belarus plans to allocate 23.46 billion dollars for servicing and repaying external and internal public debt. Such data of the Ministry of Finance are given in the prospectus for the issue of Eurobonds, which the Belarusian authorities placed in the first quarter.

Payments on the external public debt should amount to $ 19.1 billion, on the domestic - $ 4.36 billion.

At the same time, in 2019-2023, public debt payments will amount to $ 18.5 billion: in 2019 - 3.6 billion, in 2020 - 3.78, in 2021 - 3.54, in 2022 - 3 , 6, in 2023 - almost 4 billion dollars.

In 2024-2025, payments on domestic and foreign public debt are expected to decline to $ 2.59 and $ 2.36 billion, respectively.

“Based on all the parameters, we can say that the national debt is stable, but at the same time it acts as a very significant burden for the country in terms of the annual burden of servicing and repaying the public debt. We estimate in the medium term the annual payments on the state debt at $ 3.5 billion - this is a large amount for the country's economy, ”said First Deputy Minister of Finance Maksim Yermolovich earlier, answering journalists' questions.

In turn, Alexander Lukashenko set the task for the economic authorities to solve the debt problem. “The main challenge that the government and the National Bank have to cope with in the coming years is to“ outgrow ”the debt load and enter the safety zone. For future generations, we must leave Belarus without debts, ”the official leader said, speaking in April with his annual message to the people and parliament.

According to the Ministry of Finance, in 2018, $ 3.6 billion will be allocated to repay and service the state debt, including $ 2.4 billion from non-debt sources.