The 10 Most Indebted Countries in the World, According to the IMF

Japan leads the global ranking of public debt with an impressive 248.7% of GDP, according to data released by the International Monetary Fund (IMF) in October 2024. This crucial metric - the debt/GDP ratio - reveals the ability of governments to meet their financial obligations, calculated by dividing public debt by total gross domestic product.

Global debt ranking: data that impacts markets

In second place, Sudan has a debt-to-GDP ratio of 237.1%. Surprisingly, Singapore - considered a global financial center - ranks third with 175.8%, demonstrating that even highly developed economies face significant challenges in managing their sovereign debts.

Greece (152.9%) and Italy (138.7%) maintain their traditional positions among the most indebted countries, a reflection of historical economic crises that continue to influence their public finances to this day.

Smaller economies and global powers: debt patterns

The presence of smaller economies such as the Maldives (133.6%) and Bahrain (129.8%) stands out among the most indebted. These cases illustrate how countries with specialized economies - dependent on tourism and oil, respectively - can accumulate proportionally high debts.

The United States, the largest economy in the world, ranks eighth with 124.1% debt in relation to GDP. The Lao People's Democratic Republic (118.3%) and France (115.3%) complete this worrying ranking.

Brazil: fiscal situation in comparative perspective

Brazil, often criticized by some economists as "spendthrift", is relatively distant from the top 10, occupying the 23rd position with a debt of 92% of GDP. This data contextualizes the Brazilian fiscal situation in a broader global perspective.

With the reduction of the deficit observed in 2024, the trajectory of Brazilian debt has shown a downward trend. In November, the indebtedness fell to 77.7% of GDP, which would reposition the country in 43rd place worldwide.

This level places Brazil significantly below the average of developed countries (111%) and closer to the average of emerging economies (71%), providing a more balanced perspective on the country's fiscal health compared to its global peers.