Who Owes the Most?

Public Sector Debt (% of GDP) · 2026 · 192 countries

Central Govt Only General Govt (IMF)Govt + SOE Total Debt Full + Pensions

Federal/national government debt only

🇯🇵

👑 Japan ranks #1 with 198.5%

Compare top 5 in The Arena →

🥇🇯🇵Japan

Government 199%

198.5%

🥈🇸🇬Singapore

Government 176%

176.3%

🥉🇸🇩Sudan

Government 172%

172.4%

#4🇻🇪Venezuela

Government 164%

164.3%

#5🇱🇧Lebanon

Government 164%

164.1%

#6🇬🇷Greece

Government 154%

154.2%

#7🇧🇭Bahrain

Government 146%

146.4%

#8🇲🇩Maldives

Government 136%

135.9%

#9🇺🇸United States

Government 131%

131.3%

#10🇮🇹Italy

Government 129%

129.3%

#11🇧🇹Bhutan

Government 121%

121.1%

#12🇿🇲Zambia

Government 115%

114.9%

#13🇺🇰Ukraine

Government 110%

110.4%

#14🇸🇪Senegal

Government 110%

110.0%

#15🇨🇵Cabo Verde

Government 101%

101.0%

#16🇲🇴Mozambique

Government 100%

99.9%

#17🇱🇰Sri Lanka

Government 99%

99.4%

#18🇧🇷Barbados

Government 95%

94.6%

#19🇧🇴Bolivia

Government 94%

93.7%

#20🇵🇷Portugal

Government 94%

93.6%

#21🇪🇸Spain

Government 93%

93.1%

#22🇩🇲Dominica

Government 93%

92.5%

#23🇫🇷France

Government 92%

92.2%

#24🇬🇧United Kingdom

Government 90%

90.2%

#25🇻🇨St. Vincent and the Grenadines

Government 89%

89.4%

#26🇯🇴Jordan

Government 88%

87.5%

#27🇨🇴Congo, Rep.

Government 88%

87.5%

#28🇲🇺Mauritius

Government 87%

87.4%

#29🇪🇬Egypt

Government 85%

85.0%

#30🇧🇪Belgium

Government 83%

82.9%

#31🇸🇺Suriname

Government 83%

82.7%

#32🇫🇮Finland

Government 83%

82.5%

#33🇹🇺Tunisia

Government 82%

82.3%

#34🇬🇦Gabon

Government 82%

82.0%

#35🇱🇦Laos

Government 81%

81.2%

#36🇿🇦South Africa

Government 80%

79.5%

#37🇫🇯Fiji

Government 76%

75.8%

#38🇱🇨St. Lucia

Government 75%

75.3%

#39🇷🇼Rwanda

Government 75%

74.8%

#40🇬🇳Guinea-Bissau

Government 74%

74.0%

#41🇦🇷Argentina

Government 74%

73.6%

#42🇭🇺Hungary

Government 74%

73.5%

#43🇧🇭Bahamas, The

Government 73%

72.9%

#44🇧🇷Brazil

Government 73%

72.7%

#45🇵🇦Pakistan

Government 71%

71.0%

#46🇮🇸Israel

Government 69%

69.3%

#47🇹🇬Togo

Government 69%

69.1%

#48🇹🇹Trinidad and Tobago

Government 69%

68.5%

#49🇾🇪Yemen

Government 69%

68.5%

#50🇰🇳St. Kitts and Nevis

Government 68%

67.5%

#51🇰🇪Kenya

Government 67%

67.4%

#52🇲🇦Morocco

Government 67%

66.6%

#53🇬🇷Grenada

Government 66%

65.5%

#54🇬🇲Gambia, The

Government 64%

64.3%

#55🇦🇧Aruba

Government 64%

63.9%

#56🇦🇹Antigua and Barbuda

Government 63%

63.3%

#57🇳🇦Namibia

Government 63%

63.3%

#58🇦🇬Angola

Government 63%

63.2%

#59🇲🇲Myanmar

Government 63%

63.0%

#60🇲🇾Malaysia

Government 63%

62.9%

#61🇨🇾Cyprus

Government 63%

62.8%

#62🇲🇼Malawi

Government 62%

62.4%

#63🇨🇴Colombia

Government 62%

61.9%

#64🇸🇲San Marino

Government 62%

61.8%

#65🇸🇻Slovenia

Government 62%

61.6%

#66🇧🇱Belize

Government 61%

61.2%

#67🇦🇺Austria

Government 61%

60.7%

#68🇵🇦Panama

Government 60%

60.3%

#69🇸🇸South Sudan

Government 60%

60.2%

#70🇩🇿Algeria

Government 60%

59.8%

#71🇸🇻Slovak Republic

Government 60%

59.7%

#72🇨🇷Costa Rica

Government 60%

59.5%

#73🇲🇪Montenegro

Government 59%

59.1%

#74🇵🇱Palau

Government 59%

59.0%

#75🇵🇭Philippines

Government 59%

58.8%

#76🇸🇾Seychelles

Government 58%

58.4%

#77🇺🇷Uruguay

Government 58%

58.0%

#78🇹🇭Thailand

Government 58%

57.8%

#79🇯🇦Jamaica

Government 57%

57.4%

#80🇱🇸Lesotho

Government 57%

57.1%

#81🇭🇷Croatia

Government 56%

56.3%

#82🇳🇿New Zealand

Government 56%

56.1%

#83🇬🇭Ghana

Government 56%

56.1%

#84🇸🇱El Salvador

Government 56%

55.8%

#85🇨🇮Cote d'Ivoire

Government 54%

54.1%

#86🇦🇷Armenia

Government 54%

54.1%

#87🇲🇰North Macedonia

Government 54%

53.9%

#88🇱🇧Liberia

Government 54%

53.6%

#89🇮🇷Iraq

Government 54%

53.5%

#90🇺🇬Uganda

Government 53%

53.0%

#91🇦🇱Albania

Government 53%

52.7%

#92🇨🇦Canada

Government 53%

52.5%

#93🇨🇦Central African Republic

Government 53%

52.5%

#94🇧🇫Burkina Faso

Government 52%

51.7%

#95🇮🇳India

Government 51%

51.4%

#96🇷🇴Romania

Government 51%

51.3%

#97🇲🇩Madagascar

Government 51%

50.9%

#98🇻🇺Vanuatu

Government 51%

50.7%

#99🇪🇨Ecuador

Government 50%

50.2%

#100🇵🇳Papua New Guinea

Government 50%

50.0%

#101🇧🇪Benin

Government 50%

49.6%

#102🇳🇵Nepal

Government 50%

49.5%

#103🇰🇷South Korea

Government 49%

49.0%

#104🇹🇿Tanzania

Government 48%

48.3%

#105🇲🇱Mali

Government 48%

48.0%

#106🇲🇽Mexico

Government 47%

46.7%

#107🇱🇻Latvia

Government 47%

46.6%

#108🇲🇱Malta

Government 46%

46.2%

#109🇩🇴Dominican Republic

Government 45%

44.9%

#110🇮🇸Iceland

Government 45%

44.9%

#111🇧🇼Botswana

Government 45%

44.8%

#112🇸🇷Serbia

Government 44%

44.2%

#113🇵🇴Poland

Government 44%

44.1%

#114🇭🇳Honduras

Government 44%

44.1%

#115🇲🇳Mongolia

Government 44%

44.0%

#116🇨🇭Chile

Government 44%

43.7%

#117🇳🇱Netherlands

Government 44%

43.7%

#118🇨🇿Czech Republic

Government 43%

43.3%

#119🇩🇪Germany

Government 42%

42.2%

#120🇿🇼Zimbabwe

Government 42%

41.6%

#121🇳🇪Niger

Government 41%

41.4%

#122🇸🇿Eswatini

Government 41%

41.3%

#123🇪🇹Ethiopia

Government 41%

41.1%

#124🇧🇩Burundi

Government 41%

40.9%

#125🇲🇷Mauritania

Government 41%

40.6%

#126🇳🇮Nicaragua

Government 40%

40.1%

#127🇮🇩Indonesia

Government 40%

40.1%

#128🇧🇬Bangladesh

Government 39%

39.3%

#129🇸🇱Sierra Leone

Government 39%

38.6%

#130🇶🇦Qatar

Government 39%

38.5%

#131🇦🇺Australia

Government 38%

38.4%

#132🇮🇷Ireland

Government 38%

38.3%

#133🇬🇳Equatorial Guinea

Government 38%

38.1%

#134🇲🇩Moldova

Government 38%

38.0%

#135🇹🇴Tonga

Government 38%

37.8%

#136🇱🇹Lithuania

Government 38%

37.5%

#137🇰🇬Kyrgyzstan

Government 37%

37.4%

#138🇬🇮Guinea

Government 37%

37.3%

#139🇧🇱Belarus

Government 37%

36.7%

#140🇮🇷Iran

Government 36%

36.4%

#141🇳🇬Nigeria

Government 35%

35.0%

#142🇵🇷Paraguay

Government 35%

34.7%

#143🇸🇪Sweden

Government 34%

34.0%

#144🇵🇪Peru

Government 34%

33.6%

#145🇬🇪Georgia

Government 33%

33.4%

#146🇴🇲Oman

Government 33%

33.0%

#147🇨🇲Cameroon

Government 33%

32.6%

#148🇹🇨Chad

Government 33%

32.5%

#149🇦🇪United Arab Emirates

Government 32%

31.9%

#150🇸🇦Saudi Arabia

Government 32%

31.8%

#151🇻🇳Vietnam

Government 32%

31.8%

#152🇧🇮Bosnia and Herzegovina

Government 32%

31.6%

#153🇨🇴Comoros

Government 31%

31.2%

#154🇺🇿Uzbekistan

Government 31%

31.0%

#155🇦🇳Andorra

Government 31%

30.7%

#156🇸🇹São Tomé and Príncipe

Government 31%

30.5%

#157🇨🇳China

Government 30%

30.0%

#158🇰🇭Cambodia

Government 29%

29.3%

#159🇬🇺Guyana

Government 29%

29.3%

#160🇩🇯Djibouti

Government 28%

28.0%

#161🇬🇹Guatemala

Government 28%

27.8%

#162🇰🇦Kazakhstan

Government 26%

26.4%

#163🇱🇺Luxembourg

Government 26%

26.3%

#164🇸🇱Solomon Islands

Government 25%

25.1%

#165🇷🇺Russia

Government 25%

24.8%

#166🇧🇬Bulgaria

Government 24%

23.8%

#167🇪🇸Estonia

Government 23%

23.2%

#168🇹🇯Tajikistan

Government 23%

22.9%

#169🇦🇿Azerbaijan

Government 23%

22.6%

#170🇹🇼TWN

Government 21%

20.9%

#171🇹🇷Turkey

Government 20%

19.8%

#172🇩🇳Denmark

Government 20%

19.6%

#173🇽🇰UVK

Government 19%

18.9%

#174🇵🇷Puerto Rico (US)

Government 19%

18.7%

#175🇼🇸Samoa

Government 18%

17.7%

#176🇰🇮Kiribati

Government 17%

16.5%

#177🇲🇭Marshall Islands

Government 15%

14.9%

#178🇨🇩DR Congo

Government 15%

14.6%

#179🇳🇴Norway

Government 14%

14.4%

#180🇹🇱Timor-Leste

Government 14%

14.2%

#181🇭🇰Hong Kong

Government 14%

14.0%

#182🇨🇭Switzerland

Government 13%

13.1%

#183🇳🇷Nauru

Government 13%

13.0%

#184🇰🇼Kuwait

Government 11%

10.7%

#185🇭🇹Haiti

Government 10%

10.0%

#186🇦🇫Afghanistan

Government 8.3%

8.3%

#187🇫🇸Micronesia

Government 6.8%

6.8%

#188🇹🇰Turkmenistan

Government 3.6%

3.6%

#189🇹🇺Tuvalu

Government 3.6%

3.6%

#190🇧🇷Brunei

Government 2.3%

2.3%

#191🇱🇮Liechtenstein

Government 0.5%

0.5%

#192🇱🇧Libya

Government 0.1%

0.1%

Show detailed data table

Rank	Country	Central Debt	YoY	S&P	Data As Of	Methodology
🥇	🇯🇵Japan👑	198.5%	—	A+	—
🥈	🇸🇬Singapore	176.3%	—	AAA	—
🥉	🇸🇩Sudan	172.4%	—	—	—
#4	🇻🇪Venezuela	164.3%	—	—	—
#5	🇱🇧Lebanon	164.1%	—	D	—
#6	🇬🇷Greece	154.2%	—	BBB-	—
#7	🇧🇭Bahrain	146.4%	—	B+	—
#8	🇲🇻Maldives	135.9%	—	B-	—
#9	🇺🇸United States	131.3%	—	AA+	—
#10	🇮🇹Italy	129.3%	—	BBB	—
#11	🇧🇹Bhutan	121.1%	—	—	—
#12	🇿🇲Zambia	114.9%	—	SD	—
#13	🇺🇦Ukraine	110.4%	—	CCC+	—
#14	🇸🇳Senegal	110.0%	—	B+	—
#15	🏳️Cabo Verde	101.0%	—	B	—
#16	🇲🇿Mozambique	99.9%	—	CCC+	—
#17	🇱🇰Sri Lanka	99.4%	—	SD	—
#18	🇧🇧Barbados	94.6%	—	—	—
#19	🇧🇴Bolivia	93.7%	—	B	—
#20	🇵🇹Portugal	93.6%	—	A-	—
#21	🇪🇸Spain	93.1%	—	A	—
#22	🏳️Dominica	92.5%	—	—	—
#23	🇫🇷France	92.2%	—	AA-	—
#24	🇬🇧United Kingdom	90.2%	—	AA	—
#25	🏳️St. Vincent and the Grenadines	89.4%	—	—	—
#26	🇯🇴Jordan	87.5%	—	BB-	—
#27	🏳️Congo, Rep.	87.5%	—	—	—
#28	🇲🇺Mauritius	87.4%	—	BBB-	—
#29	🇪🇬Egypt	85.0%	—	B-	—
#30	🇧🇪Belgium	82.9%	—	AA	—
#31	🏳️Suriname	82.7%	—	CCC+	—
#32	🇫🇮Finland	82.5%	—	AA+	—
#33	🇹🇳Tunisia	82.3%	—	CCC+	—
#34	🏳️Gabon	82.0%	—	B-	—
#35	🏳️Laos	81.2%	—	—	—
#36	🇿🇦South Africa	79.5%	—	BB-	—
#37	🏳️Fiji	75.8%	—	B+	—
#38	🏳️St. Lucia	75.3%	—	—	—
#39	🇷🇼Rwanda	74.8%	—	B+	—
#40	🏳️Guinea-Bissau	74.0%	—	—	—
#41	🇦🇷Argentina	73.6%	—	CCC+	—
#42	🇭🇺Hungary	73.5%	—	BBB	—
#43	🏳️Bahamas, The	72.9%	—	—	—
#44	🇧🇷Brazil	72.7%	—	BB	—
#45	🇵🇰Pakistan	71.0%	—	CCC+	—
#46	🇮🇱Israel	69.3%	—	A+	—
#47	🏳️Togo	69.1%	—	—	—
#48	🇹🇹Trinidad and Tobago	68.5%	—	BBB-	—
#49	🏳️Yemen	68.5%	—	—	—
#50	🏳️St. Kitts and Nevis	67.5%	—	—	—
#51	🇰🇪Kenya	67.4%	—	B	—
#52	🇲🇦Morocco	66.6%	—	BB+	—
#53	🏳️Grenada	65.5%	—	—	—
#54	🏳️Gambia, The	64.3%	—	—	—
#55	🏳️Aruba	63.9%	—	BBB+	—
#56	🏳️Antigua and Barbuda	63.3%	—	—	—
#57	🇳🇦Namibia	63.3%	—	BB+	—
#58	🇦🇴Angola	63.2%	—	B-	—
#59	🇲🇲Myanmar	63.0%	—	—	—
#60	🇲🇾Malaysia	62.9%	—	A-	—
#61	🏳️Cyprus	62.8%	—	BBB+	—
#62	🏳️Malawi	62.4%	—	—	—
#63	🇨🇴Colombia	61.9%	—	BB+	—
#64	🇸🇲San Marino	61.8%	—	—	—
#65	🇸🇮Slovenia	61.6%	—	AA-	—
#66	🏳️Belize	61.2%	—	B-	—
#67	🇦🇹Austria	60.7%	—	AA+	—
#68	🇵🇦Panama	60.3%	—	BBB	—
#69	🏳️South Sudan	60.2%	—	—	—
#70	🇩🇿Algeria	59.8%	—	—	—
#71	🇸🇰Slovak Republic	59.7%	—	A	—
#72	🇨🇷Costa Rica	59.5%	—	BB-	—
#73	🏳️Montenegro	59.1%	—	—	—
#74	🏳️Palau	59.0%	—	—	—
#75	🇵🇭Philippines	58.8%	—	BBB+	—
#76	🏳️Seychelles	58.4%	—	—	—
#77	🇺🇾Uruguay	58.0%	—	BBB	—
#78	🇹🇭Thailand	57.8%	—	A-	—
#79	🇯🇲Jamaica	57.4%	—	BB-	—
#80	🏳️Lesotho	57.1%	—	—	—
#81	🇭🇷Croatia	56.3%	—	BBB+	—
#82	🇳🇿New Zealand	56.1%	—	AA+	—
#83	🇬🇭Ghana	56.1%	—	SD	—
#84	🇸🇻El Salvador	55.8%	—	B	—
#85	🇨🇮Cote d'Ivoire	54.1%	—	BB-	—
#86	🇦🇲Armenia	54.1%	—	BB-	—
#87	🏳️North Macedonia	53.9%	—	BB-	—
#88	🏳️Liberia	53.6%	—	—	—
#89	🇮🇶Iraq	53.5%	—	B-	—
#90	🇺🇬Uganda	53.0%	—	—	—
#91	🏳️Albania	52.7%	—	B+	—
#92	🇨🇦Canada	52.5%	—	AAA	—
#93	🏳️Central African Republic	52.5%	—	—	—
#94	🏳️Burkina Faso	51.7%	—	—	—
#95	🇮🇳India	51.4%	—	BBB-	—
#96	🇷🇴Romania	51.3%	—	BBB-	—
#97	🇲🇬Madagascar	50.9%	—	—	—
#98	🏳️Vanuatu	50.7%	—	—	—
#99	🇪🇨Ecuador	50.2%	—	B	—
#100	🏳️Papua New Guinea	50.0%	—	B-	—
#101	🏳️Benin	49.6%	—	B+	—
#102	🇳🇵Nepal	49.5%	—	—	—
#103	🇰🇷South Korea	49.0%	—	AA	—
#104	🇹🇿Tanzania	48.3%	—	—	—
#105	🏳️Mali	48.0%	—	—	—
#106	🇲🇽Mexico	46.7%	—	BBB	—
#107	🇱🇻Latvia	46.6%	—	A-	—
#108	🏳️Malta	46.2%	—	A-	—
#109	🇩🇴Dominican Republic	44.9%	—	BB	—
#110	🇮🇸Iceland	44.9%	—	A	—
#111	🇧🇼Botswana	44.8%	—	BBB+	—
#112	🇷🇸Serbia	44.2%	—	BB+	—
#113	🇵🇱Poland	44.1%	—	A	—
#114	🇭🇳Honduras	44.1%	—	BB	—
#115	🇲🇳Mongolia	44.0%	—	B	—
#116	🇨🇱Chile	43.7%	—	A	—
#117	🇳🇱Netherlands	43.7%	—	AAA	—
#118	🇨🇿Czech Republic	43.3%	—	AA-	—
#119	🇩🇪Germany	42.2%	—	AAA	—
#120	🇿🇼Zimbabwe	41.6%	—	—	—
#121	🇳🇪Niger	41.4%	—	—	—
#122	🏳️Eswatini	41.3%	—	—	—
#123	🇪🇹Ethiopia	41.1%	—	CCC	—
#124	🏳️Burundi	40.9%	—	—	—
#125	🏳️Mauritania	40.6%	—	—	—
#126	🇳🇮Nicaragua	40.1%	—	B+	—
#127	🇮🇩Indonesia	40.1%	—	BBB	—
#128	🇧🇩Bangladesh	39.3%	—	BB-	—
#129	🏳️Sierra Leone	38.6%	—	—	—
#130	🇶🇦Qatar	38.5%	—	AA	—
#131	🇦🇺Australia	38.4%	—	AAA	—
#132	🇮🇪Ireland	38.3%	—	AA	—
#133	🏳️Equatorial Guinea	38.1%	—	—	—
#134	🏳️Moldova	38.0%	—	—	—
#135	🏳️Tonga	37.8%	—	—	—
#136	🇱🇹Lithuania	37.5%	—	A+	—
#137	🇰🇬Kyrgyzstan	37.4%	—	—	—
#138	🏳️Guinea	37.3%	—	—	—
#139	🏳️Belarus	36.7%	—	CCC-	—
#140	🇮🇷Iran	36.4%	—	—	—
#141	🇳🇬Nigeria	35.0%	—	B-	—
#142	🇵🇾Paraguay	34.7%	—	BB+	—
#143	🇸🇪Sweden	34.0%	—	AAA	—
#144	🇵🇪Peru	33.6%	—	BBB	—
#145	🇬🇪Georgia	33.4%	—	BB	—
#146	🇴🇲Oman	33.0%	—	BB	—
#147	🇨🇲Cameroon	32.6%	—	B-	—
#148	🏳️Chad	32.5%	—	—	—
#149	🇦🇪United Arab Emirates	31.9%	—	AA	—
#150	🇸🇦Saudi Arabia	31.8%	—	A	—
#151	🇻🇳Vietnam	31.8%	—	BB+	—
#152	🏳️Bosnia and Herzegovina	31.6%	—	—	—
#153	🏳️Comoros	31.2%	—	—	—
#154	🇺🇿Uzbekistan	31.0%	—	BB-	—
#155	🇦🇩Andorra	30.7%	—	—	—
#156	🏳️São Tomé and Príncipe	30.5%	—	—	—
#157	🇨🇳China	30.0%	—	A+	—	IMF Augmented Includes LGFVs and off-the-books borrowing Read the deep dive →
#158	🇰🇭Cambodia	29.3%	—	—	—
#159	🇬🇾Guyana	29.3%	—	—	—
#160	🏳️Djibouti	28.0%	—	—	—
#161	🇬🇹Guatemala	27.8%	—	BB	—
#162	🇰🇿Kazakhstan	26.4%	—	BBB	—
#163	🇱🇺Luxembourg	26.3%	—	AAA	—
#164	🏳️Solomon Islands	25.1%	—	—	—
#165	🇷🇺Russia	24.8%	—	CCC-	—
#166	🇧🇬Bulgaria	23.8%	—	BBB	—
#167	🇪🇪Estonia	23.2%	—	A+	—
#168	🇹🇯Tajikistan	22.9%	—	—	—
#169	🇦🇿Azerbaijan	22.6%	—	BB+	—
#170	🇹🇼TWN	20.9%	—	AA	—
#171	🇹🇷Turkey	19.8%	—	BB-	—
#172	🇩🇰Denmark	19.6%	—	AAA	—
#173	🏳️UVK	18.9%	—	—	—
#174	🇵🇷Puerto Rico (US)	18.7%	—	—	—
#175	🏳️Samoa	17.7%	—	—	—
#176	🏳️Kiribati	16.5%	—	—	—
#177	🏳️Marshall Islands	14.9%	—	—	—
#178	🇨🇩DR Congo	14.6%	—	CCC+	—
#179	🇳🇴Norway	14.4%	—	AAA	—
#180	🏳️Timor-Leste	14.2%	—	—	—
#181	🇭🇰Hong Kong	14.0%	—	AA+	—
#182	🇨🇭Switzerland	13.1%	—	AAA	—
#183	🏳️Nauru	13.0%	—	—	—
#184	🇰🇼Kuwait	10.7%	—	A+	—
#185	🏳️Haiti	10.0%	—	—	—
#186	🇦🇫Afghanistan	8.3%	—	—	—
#187	🏳️Micronesia	6.8%	—	—	—
#188	🇹🇲Turkmenistan	3.6%	—	—	—
#189	🏳️Tuvalu	3.6%	—	—	—
#190	🏳️Brunei	2.3%	—	—	—
#191	🇱🇮Liechtenstein	0.5%	—	—	—
#192	🇱🇾Libya	0.1%	—	—	—

Data freshness varies by country. Dates shown per country reflect when the source data was published.● <6 months● 6-12 months● >12 months

About this view: Central government debt only

This view subtracts state, regional, and local government debt from the IMF baseline — showing only what the central/federal government owes. Available for 73 countries where we know the subnational breakdown. Countries without breakdown data show the full general government figure.