10 Most over indebted countries
The economy around the world is not faring too well due to a range of problems. South Africa’s economy being as weak as it is at the moment, we tend to think we are worse off than other countries, yet you would be surprised.
We have compiled a list of the top ten most over indebted countries as published by the World Economic Forum in 2015. You will find that they have calculated the gross government debt as a percentage of GDP (Gross Domestic Product). This way, they were able to detect how able a country is to pay back its debts without gaining even more debt.
The lower the debt-to-GDP ratio of a country, the better. South Africa’s average debt to GDP ratio stands between 39 and 44 according to the WEF.
- Japan 245.9%
2. Greece 196.95%
3. Eritrea 137.6%
4. Italy 133.11%
5. Lebanon 132.4%
6. Portugal 127.8%
7. Jamaica 124.84%
8. Cape Verde 124.68%
9. Bhutan 115.89%
- Gambia 107.71%
Just think, your debt could have been billions! You don’t need political intervention to help solve your debt problems. Just contact Senator Counsellors by sending an email to fin@senatorgroup.co.za or call 012 654 0107 and we will show you the way out.
