As much as possible, every country owes another and that continues. In this article, we take a closer look at the list of the 20 most indebted countries in the world in 2022 as put out by the World Bank.
Many people hold the view that only developing and underdeveloped countries go in for loans to finance their budget but that assertion is far from the truth and this article seeks to put a correction that.
Also, there is this school of thought that holds the opinion that it is only African countries that seek loans from the international fronts since in most cases their GDP cannot sustain their high budgets which they need to survive their economies.
To be honest, the above assertion is also completely false and there is the need to put an end to it so read along with us on this. Below, you will find a list of the most indebted countries in the world as of 2021 according to World Bank’s annual report on the subject.
Most indebted countries in the world 2021
Country Debt Amount
- USA $18,286 trillion
- UK $7,499 trillion
- France $5,250 trillion
- Germany $5,084 trillion
- Netherland $4,124 trillion
- Luxembourg $3,900 trillion
- Japan $3,408 trillion
- Italy $2,285 trillion
- Ireland $2,236 trillion
- Spain $2,036 trillion
- Canada $1,791 trillion
- Switzerland $1,699 trillion
- Australia $1,563 trillion
- China $1,437 trillion
- China Hong Kong $1,416 trillion
- Singapore $1,300 trillion
- Belgium $1,194 trillion
- Sweden $938 billion
- Austria $629 billion
- Norway $623 billion
Source: World Bank Annual Report for 2021
