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September 23, 2019
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World’s top 5 countries that are buried under debt

World’s top 5 countries that are buried under debt| TheNewsTribe.com

ISLAMABAD- Are you resentful towards the burn of debt your country is bearing at the time? Just take a breath and look at these countries which have paved a lot regardless of the debt they had to take.

Here are a few countries who are deemed as the world’s most indebted countries.

Japan

Japan is the most indebted nation of all and whose economy is going through a tough time. It is liable for about 243.2 percent of its Gross Domestic product (GDP). The credit rating agencies of the world have excluded Japan from the countries with stable economies.

Greece

Greece is indebted up to 173.8 percent of its GDP. It has been facing a severe financial crisis from several years and up till now it has acquired the bailout package of about 320 billion euros, redemption of which is an impossible phenomena for it.

Lebanon

This country is indebted about 139.7 percent of it GDP. It is famous for its tourist places but the ongoing war and internal political unrest has badly harmed its economy for which it has to take loan.

Jamaica

This country is indebted to almost 138.9 percent of its GDP. It is in this condition because of high rate of corruption and crimes. The economy is deteriorating because of unemployment. According to International Monetary Fund, (IMF) the country has to introduce tax reforms to make the situation better.

Italy

This country is indebted up to 132.5 percent of its GDP. This is the second biggest indebted nation in Eurozone. In this year, the economy has staggered to betterment due to the remittances.