top ten countries carry most debt burden
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Top Ten Countries Carry Most Debt Burden
Please share this with your friends and family. It will be worth their time!!
Japan tops the list of ten countries that carry the most debt burden, followed by Saint Kitts andNevis, Lebanon, Zimbabwe and Greece. The debt burden of this country becomes heavier afterMarch's nuclear disaster. The severe earthquake and tsunami that hit Japan are expected to costover $300 billion.
Japan
Japan is the country with the highest debt-to-GDP ratio of any country in the world. The Japanesegovernment has been in debt since the housing bubble in the 90s. Especially, the debt burdenbecomes heavier after the the worst natural disaster in history hit this nation in March 2011. TheJapanese government has to pile billions of dollars of fresh borrowing on top of a debt load.However, Japan has a high savings rate which makes it easier for the government to finance thedebt. 90% of Japanese debt comes from Japanese individuals.
Debt as percent of GDP: 225.8
Saint Kitts and Nevis
The federal two-island nation expects to get creditor cooperation in restructuring its public debtstock, which is said to be a total of about $1 billion. However, treasury bills are not a part of theplan.
Debt as percent of GDP: 196.3
Lebanon
According to IMF, the country's debt has been falling down but half of its budget revenues gotowards interest payments on its immense debt burden. Lebanon's public debt is now at $52.7billion.
Debt as percent of GDP: 150.7
Zimbabwe
Uncheck spending of President Mugabe had raised Zimbabwe's debt burden. The country evenasked for debt relief as part of the Heavily Indebted Poor Countries program in 2010. The IMF saidthat Zimbabwe was under debt stress.
Debt as percent of GDP: 149
Greece
Though the country has passed new austerity measures and been provided a second bailout, itsdefault reportedly looks more likely. Greece's public debt is expected to rise in 2012 before easing in2013.
Debt as percent of GDP: 144
Iceland
The country's economy is said to get a strong return and CDS (Credit Default Swap) on its debt haseased 14% this year. Ratings agencies maintain their junk status on Iceland with a population ofabout 320,000.
Debt as percent of GDP: 123.8
Jamaica
The island country saw a debt burden growing between 1996 and 2003 as its financial sector took ahit and a drought hurt the agricultural production. Jamaica even introduced the Jamaica DebtExchange (JDX) program to restructure its domestic debt.
Debt as percent of GDP: 123.2
Italy
At the end of April, Italian public debt is said to be a total of EUR1.89 trillion. Prime Minister SilvioBerlusconi has survived a confidence vote on a EUR40 billion austerity package to help this countryavoid becoming the next domino to fall in Europe.
Debt as percent of GDP: 119
Singapore
Singapore's low debt-service ratio, for example ratio of debt service payments to that of its exportearnings, has been attributed to low interest rates. Singapore is also among the nations that areunder debt stress.
Debt as percent of GDP: 102.4
Belgium
To prevent contagion of fears and keep calm markets, Belgium's caretaker government announcedbetter-than-expected budget deficit projections of 3.3%, instead of previous estimates of 3.6%. Thisnation's debt is forecasted to peat at 98.3% of GDP in 2013.
Debt as percent of GDP: 98.6
Greece's Debt Burden
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