The coronavirus pandemic in 2019 led to a sharp increase in the total amount of debt amassed by nations around the world which has increased their debt index till date.

In 2021, public debt (that is, debt owed by countries’ central governments), formed the highest share of total global debt seen in more than 50 years, according to the International Monetary Fund.

10 top countries with highest debt are as follows

Japan

Debt-to-GDP ratio: 256%

Total debt: $10.1 trillion

Greece

Debt-to-GDP ratio: 191.5%

Total debt: $415.35 billion

Italy

Debt-to-GDP ratio: 172.5%

Total debt: $2.94 trillion

United States

Debt-to-GDP ratio: 144.4%

Total debt: $36.8 trillion

Spain

Debt-to-GDP ratio: 142.7%

Total debt: $1.74 trillion

France

Debt-to-GDP ratio: 137.7%

Total debt: $3.478 trillion

Portugal

Debt-to-GDP ratio: 116.6%

Total debt: $305.45 billion

Canada

Debt-to-GDP ratio: 112.8%T

otal debt : $2.52 trillion. 

Brazil

Debt-to-GDP ratio: 110%

Total debt: N/A

Belgium

Debt-to-GDP ratio: 103.8%

Total debt: $640.3 billion