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Who Owes the Most?

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

Central + state/local government — matches IMF and Trading Economics

🇯🇵

👑 Japan ranks #1 with 226.8%

Compare top 5 in The Arena →
🥇🇯🇵Japan
Central Government 199%
28%
226.8%
🥈🇸🇬Singapore
Central Government 176%
176.3%
🥉🇸🇩Sudan
Central Government 172%
172.4%
#4🇻🇪Venezuela
Central Government 164%
164.3%
#5🇱🇧Lebanon
Central Government 164%
164.1%
#6🇬🇷Greece
Central Government 154%
154.2%
#7🇺🇸United States
Central Government 131%
22%
153.6%
#8🇧🇭Bahrain
Central Government 146%
146.4%
#9🇲🇩Maldives
Central Government 136%
135.9%
#10🇮🇹Italy
Central Government 129%
6
134.9%
#11🇸🇪Senegal
Central Government 110%
14%
124.3%
#12🇧🇹Bhutan
Central Government 121%
121.1%
#13🇿🇲Zambia
Central Government 115%
114.9%
#14🇫🇷France
Central Government 92%
Subnational 21%
113.3%
#15🇨🇦Canada
Central Government 53%
Subnational 61%
113.0%
#16🇺🇰Ukraine
Central Government 110%
110.4%
#17🇧🇪Belgium
Central Government 83%
Subnational 21%
103.9%
#18🇪🇸Spain
Central Government 93%
9%
101.6%
#19🇨🇵Cabo Verde
Central Government 101%
101.0%
#20🇱🇰Sri Lanka
Central Government 99%
1
100.8%
#21🇲🇴Mozambique
Central Government 100%
99.9%
#22🇧🇷Barbados
Central Government 95%
94.6%
#23🇧🇴Bolivia
Central Government 94%
93.7%
#24🇵🇷Portugal
Central Government 94%
93.6%
#25🇬🇧United Kingdom
Central Government 90%
3
93.1%
#26🇩🇲Dominica
Central Government 93%
92.5%
#27🇻🇨St. Vincent and the Grenadines
Central Government 89%
1
90.5%
#28🇨🇴Congo, Rep.
Central Government 88%
2
89.9%
#29🇯🇴Jordan
Central Government 88%
87.5%
#30🇲🇺Mauritius
Central Government 87%
87.4%
#31🇸🇱El Salvador
Central Government 56%
Subnational 31%
86.9%
#32🇪🇬Egypt
Central Government 85%
85.0%
#33🇱🇦Laos
Central Government 81%
4
84.7%
#34🇸🇺Suriname
Central Government 83%
82.7%
#35🇹🇺Tunisia
Central Government 82%
82.6%
#36🇫🇮Finland
Central Government 83%
82.5%
#37🇬🇦Gabon
Central Government 82%
82.0%
#38🇮🇳India
Central Government 51%
Subnational 30%
80.9%
#39🇦🇺Austria
Central Government 61%
Subnational 19%
79.9%
#40🇫🇯Fiji
Central Government 76%
4%
79.8%
#41🇿🇦South Africa
Central Government 80%
79.5%
#42🇧🇷Brazil
Central Government 73%
6%
79.1%
#43🇲🇼Malawi
Central Government 62%
Subnational 16%
78.3%
#44🇱🇨St. Lucia
Central Government 75%
2
77.2%
#45🇷🇼Rwanda
Central Government 75%
74.8%
#46🇬🇳Guinea-Bissau
Central Government 74%
74.0%
#47🇦🇷Argentina
Central Government 74%
73.6%
#48🇭🇺Hungary
Central Government 74%
73.5%
#49🇧🇭Bahamas, The
Central Government 73%
72.9%
#50🇵🇦Pakistan
Central Government 71%
71.3%
#51🇨🇳China
National government 30%
Regional & city governments 41%
71.0%
#52🇹🇬Togo
Central Government 69%
2
70.6%
#53🇲🇾Malaysia
Central Government 63%
8%
70.5%
#54🇮🇸Israel
Central Government 69%
1
70.4%
#55🇰🇪Kenya
Central Government 67%
3
70.1%
#56🇬🇲Gambia, The
Central Government 64%
6%
70.0%
#57🇹🇹Trinidad and Tobago
Central Government 69%
68.5%
#58🇾🇪Yemen
Central Government 69%
68.5%
#59🇺🇷Uruguay
Central Government 58%
10%
68.3%
#60🇰🇳St. Kitts and Nevis
Central Government 68%
67.5%
#61🇹🇭Thailand
Central Government 58%
9%
66.7%
#62🇲🇦Morocco
Central Government 67%
66.6%
#63🇸🇻Slovenia
Central Government 62%
5%
66.6%
#64🇬🇷Grenada
Central Government 66%
65.5%
#65🇦🇧Aruba
Central Government 64%
63.9%
#66🇦🇹Antigua and Barbuda
Central Government 63%
·
63.8%
#67🇧🇱Belize
Central Government 61%
2
63.5%
#68🇳🇦Namibia
Central Government 63%
63.3%
#69🇦🇬Angola
Central Government 63%
63.2%
#70🇲🇲Myanmar
Central Government 63%
63.0%
#71🇨🇾Cyprus
Central Government 63%
62.8%
#72🇩🇪Germany
Central Government 42%
Subnational 20%
62.2%
#73🇩🇿Algeria
Central Government 60%
2
62.2%
#74🇨🇴Colombia
Central Government 62%
61.9%
#75🇸🇲San Marino
Central Government 62%
61.8%
#76🇲🇪Montenegro
Central Government 59%
3
61.6%
#77🇵🇦Panama
Central Government 60%
60.3%
#78🇸🇸South Sudan
Central Government 60%
60.2%
#79🇲🇽Mexico
Central Government 47%
Subnational 13%
59.9%
#80🇸🇻Slovak Republic
Central Government 60%
59.7%
#81🇨🇷Costa Rica
Central Government 60%
59.5%
#82🇵🇱Palau
Central Government 59%
59.0%
#83🇩🇴Dominican Republic
Central Government 45%
Subnational 14%
58.9%
#84🇵🇭Philippines
Central Government 59%
58.8%
#85🇸🇾Seychelles
Central Government 58%
58.4%
#86🇮🇷Iraq
Central Government 54%
5%
58.0%
#87🇭🇷Croatia
Central Government 56%
1
57.4%
#88🇯🇦Jamaica
Central Government 57%
57.4%
#89🇱🇸Lesotho
Central Government 57%
57.1%
#90🇰🇷South Korea
Central Government 49%
8%
56.7%
#91🇳🇿New Zealand
Central Government 56%
56.1%
#92🇬🇭Ghana
Central Government 56%
56.1%
#93🇵🇴Poland
Central Government 44%
Subnational 11%
55.1%
#94🇷🇴Romania
Central Government 51%
4%
54.8%
#95🇱🇧Liberia
Central Government 54%
·
54.2%
#96🇨🇮Cote d'Ivoire
Central Government 54%
54.1%
#97🇦🇷Armenia
Central Government 54%
54.1%
#98🇲🇰North Macedonia
Central Government 54%
53.9%
#99🇺🇬Uganda
Central Government 53%
53.0%
#100🇦🇱Albania
Central Government 53%
52.7%
#101🇨🇦Central African Republic
Central Government 53%
52.5%
#102🇧🇫Burkina Faso
Central Government 52%
51.7%
#103🇻🇺Vanuatu
Central Government 51%
·
51.5%
#104🇲🇩Madagascar
Central Government 51%
50.9%
#105🇦🇺Australia
Central Government 38%
Subnational 12%
50.8%
#106🇪🇨Ecuador
Central Government 50%
50.2%
#107🇵🇳Papua New Guinea
Central Government 50%
50.0%
#108🇳🇵Nepal
Central Government 50%
·
49.9%
#109🇲🇳Mongolia
Central Government 44%
6%
49.7%
#110🇧🇪Benin
Central Government 50%
49.6%
#111🇹🇿Tanzania
Central Government 48%
48.3%
#112🇲🇱Mali
Central Government 48%
48.0%
#113🇱🇻Latvia
Central Government 47%
46.6%
#114🇲🇱Malta
Central Government 46%
46.2%
#115🇸🇹São Tomé and Príncipe
Central Government 31%
Subnational 15%
45.4%
#116🇮🇸Iceland
Central Government 45%
44.9%
#117🇧🇼Botswana
Central Government 45%
44.8%
#118🇸🇷Serbia
Central Government 44%
44.2%
#119🇭🇳Honduras
Central Government 44%
44.1%
#120🇨🇭Chile
Central Government 44%
43.7%
#121🇳🇱Netherlands
Central Government 44%
43.7%
#122🇸🇿Eswatini
Central Government 41%
2%
43.5%
#123🇨🇿Czech Republic
Central Government 43%
43.3%
#124🇳🇴Norway
Central Government 14%
Subnational 28%
42.5%
#125🇿🇼Zimbabwe
Central Government 42%
41.6%
#126🇳🇪Niger
Central Government 41%
41.4%
#127🇮🇩Indonesia
Central Government 40%
1
41.1%
#128🇪🇹Ethiopia
Central Government 41%
41.1%
#129🇧🇩Burundi
Central Government 41%
40.9%
#130🇲🇷Mauritania
Central Government 41%
40.6%
#131🇵🇷Paraguay
Central Government 35%
6%
40.6%
#132🇧🇬Bangladesh
Central Government 39%
·
40.2%
#133🇳🇮Nicaragua
Central Government 40%
40.1%
#134🇲🇩Moldova
Central Government 38%
1
39.2%
#135🇶🇦Qatar
Central Government 39%
·
38.8%
#136🇸🇱Sierra Leone
Central Government 39%
38.6%
#137🇰🇬Kyrgyzstan
Central Government 37%
·
38.3%
#138🇮🇷Ireland
Central Government 38%
38.3%
#139🇬🇳Equatorial Guinea
Central Government 38%
38.1%
#140🇬🇮Guinea
Central Government 37%
·
38.1%
#141🇱🇹Lithuania
Central Government 38%
·
38.0%
#142🇹🇴Tonga
Central Government 38%
37.8%
#143🇧🇱Belarus
Central Government 37%
36.7%
#144🇮🇷Iran
Central Government 36%
36.4%
#145🇨🇲Cameroon
Central Government 33%
4%
36.3%
#146🇨🇭Switzerland
Central Government 13%
Subnational 23%
36.1%
#147🇳🇬Nigeria
Central Government 35%
35.0%
#148🇸🇪Sweden
Central Government 34%
34.0%
#149🇵🇪Peru
Central Government 34%
33.6%
#150🇬🇪Georgia
Central Government 33%
33.4%
#151🇴🇲Oman
Central Government 33%
33.0%
#152🇨🇴Comoros
Central Government 31%
1
32.6%
#153🇹🇨Chad
Central Government 33%
32.5%
#154🇦🇪United Arab Emirates
Central Government 32%
31.9%
#155🇸🇦Saudi Arabia
Central Government 32%
31.8%
#156🇻🇳Vietnam
Central Government 32%
31.8%
#157🇧🇮Bosnia and Herzegovina
Central Government 32%
31.6%
#158🇺🇿Uzbekistan
Central Government 31%
31.0%
#159🇦🇳Andorra
Central Government 31%
30.7%
#160🇩🇳Denmark
Central Government 20%
Subnational 11%
30.5%
#161🇰🇭Cambodia
Central Government 29%
29.3%
#162🇬🇺Guyana
Central Government 29%
29.3%
#163🇩🇯Djibouti
Central Government 28%
28.0%
#164🇬🇹Guatemala
Central Government 28%
27.8%
#165🇰🇦Kazakhstan
Central Government 26%
26.4%
#166🇱🇺Luxembourg
Central Government 26%
26.3%
#167🇸🇱Solomon Islands
Central Government 25%
25.1%
#168🇹🇷Turkey
Central Government 20%
Subnational 5.3%
25.1%
#169🇷🇺Russia
Central Government 25%
24.8%
#170🇧🇬Bulgaria
Central Government 24%
23.8%
#171🇪🇸Estonia
Central Government 23%
·
23.5%
#172🇦🇿Azerbaijan
Central Government 23%
·
23.5%
#173🇹🇯Tajikistan
Central Government 23%
22.9%
#174🇹🇼TWN
Central Government 21%
20.9%
#175🇽🇰UVK
Central Government 19%
18.9%
#176🇵🇷Puerto Rico (US)
Central Government 19%
18.7%
#177🇼🇸Samoa
Central Government 18%
17.7%
#178🇰🇮Kiribati
Central Government 17%
16.5%
#179🇲🇭Marshall Islands
Central Government 15%
14.9%
#180🇹🇱Timor-Leste
Central Government 14%
·
14.7%
#181🇨🇩DR Congo
Central Government 15%
14.6%
#182🇭🇰Hong Kong
Central Government 14%
14.0%
#183🇳🇷Nauru
Central Government 13%
13.0%
#184🇰🇼Kuwait
Central Government 11%
10.7%
#185🇭🇹Haiti
Central Government 10%
10.0%
#186🇦🇫Afghanistan
Central Government 8.3%
0.6%
8.8%
#187🇫🇸Micronesia
Central Government 6.8%
6.8%
#188🇹🇰Turkmenistan
Central Government 3.6%
3.6%
#189🇹🇺Tuvalu
Central Government 3.6%
3.6%
#190🇧🇷Brunei
Central Government 2.3%
2.3%
#191🇱🇮Liechtenstein
Central Government 0.5%
0.5%
#192🇱🇧Libya
Central Government 0.1%
0.1%
Show detailed data table
RankCountryGovt DebtYoYS&PData As OfMethodology
🥇🇯🇵Japan👑226.8%A+
🥈🇸🇬Singapore176.3%AAA
🥉🇸🇩Sudan172.4%
#4🇻🇪Venezuela164.3%
#5🇱🇧Lebanon164.1%D
#6🇬🇷Greece154.2%BBB-
#7🇺🇸United States153.6%AA+
#8🇧🇭Bahrain146.4%B+
#9🇲🇻Maldives135.9%B-
#10🇮🇹Italy134.9%BBB
#11🇸🇳Senegal124.3%B+
#12🇧🇹Bhutan121.1%
#13🇿🇲Zambia114.9%SD
#14🇫🇷France113.3%AA-
#15🇨🇦Canada113.0%AAA
#16🇺🇦Ukraine110.4%CCC+
#17🇧🇪Belgium103.9%AA
#18🇪🇸Spain101.6%A
#19🏳️Cabo Verde101.0%B
#20🇱🇰Sri Lanka100.8%SD
#21🇲🇿Mozambique99.9%CCC+
#22🇧🇧Barbados94.6%
#23🇧🇴Bolivia93.7%B
#24🇵🇹Portugal93.6%A-
#25🇬🇧United Kingdom93.1%AA
#26🏳️Dominica92.5%
#27🏳️St. Vincent and the Grenadines90.5%
#28🏳️Congo, Rep.89.9%
#29🇯🇴Jordan87.5%BB-
#30🇲🇺Mauritius87.4%BBB-
#31🇸🇻El Salvador86.9%B
#32🇪🇬Egypt85.0%B-
#33🏳️Laos84.7%
#34🏳️Suriname82.7%CCC+
#35🇹🇳Tunisia82.6%CCC+
#36🇫🇮Finland82.5%AA+
#37🏳️Gabon82.0%B-
#38🇮🇳India80.9%BBB-
#39🇦🇹Austria79.9%AA+
#40🏳️Fiji79.8%B+
#41🇿🇦South Africa79.5%BB-
#42🇧🇷Brazil79.1%BB
#43🏳️Malawi78.3%
#44🏳️St. Lucia77.2%
#45🇷🇼Rwanda74.8%B+
#46🏳️Guinea-Bissau74.0%
#47🇦🇷Argentina73.6%CCC+
#48🇭🇺Hungary73.5%BBB
#49🏳️Bahamas, The72.9%
#50🇵🇰Pakistan71.3%CCC+
#51🇨🇳China71.0%A+
IMF Augmented

Includes LGFVs and off-the-books borrowing Read the deep dive →

#52🏳️Togo70.6%
#53🇲🇾Malaysia70.5%A-
#54🇮🇱Israel70.4%A+
#55🇰🇪Kenya70.1%B
#56🏳️Gambia, The70.0%
#57🇹🇹Trinidad and Tobago68.5%BBB-
#58🏳️Yemen68.5%
#59🇺🇾Uruguay68.3%BBB
#60🏳️St. Kitts and Nevis67.5%
#61🇹🇭Thailand66.7%A-
#62🇲🇦Morocco66.6%BB+
#63🇸🇮Slovenia66.6%AA-
#64🏳️Grenada65.5%
#65🏳️Aruba63.9%BBB+
#66🏳️Antigua and Barbuda63.8%
#67🏳️Belize63.5%B-
#68🇳🇦Namibia63.3%BB+
#69🇦🇴Angola63.2%B-
#70🇲🇲Myanmar63.0%
#71🏳️Cyprus62.8%BBB+
#72🇩🇪Germany62.2%AAA
#73🇩🇿Algeria62.2%
#74🇨🇴Colombia61.9%BB+
#75🇸🇲San Marino61.8%
#76🏳️Montenegro61.6%
#77🇵🇦Panama60.3%BBB
#78🏳️South Sudan60.2%
#79🇲🇽Mexico59.9%BBB
#80🇸🇰Slovak Republic59.7%A
#81🇨🇷Costa Rica59.5%BB-
#82🏳️Palau59.0%
#83🇩🇴Dominican Republic58.9%BB
#84🇵🇭Philippines58.8%BBB+
#85🏳️Seychelles58.4%
#86🇮🇶Iraq58.0%B-
#87🇭🇷Croatia57.4%BBB+
#88🇯🇲Jamaica57.4%BB-
#89🏳️Lesotho57.1%
#90🇰🇷South Korea56.7%AA
#91🇳🇿New Zealand56.1%AA+
#92🇬🇭Ghana56.1%SD
#93🇵🇱Poland55.1%A
#94🇷🇴Romania54.8%BBB-
#95🏳️Liberia54.2%
#96🇨🇮Cote d'Ivoire54.1%BB-
#97🇦🇲Armenia54.1%BB-
#98🏳️North Macedonia53.9%BB-
#99🇺🇬Uganda53.0%
#100🏳️Albania52.7%B+
#101🏳️Central African Republic52.5%
#102🏳️Burkina Faso51.7%
#103🏳️Vanuatu51.5%
#104🇲🇬Madagascar50.9%
#105🇦🇺Australia50.8%AAA
#106🇪🇨Ecuador50.2%B
#107🏳️Papua New Guinea50.0%B-
#108🇳🇵Nepal49.9%
#109🇲🇳Mongolia49.7%B
#110🏳️Benin49.6%B+
#111🇹🇿Tanzania48.3%
#112🏳️Mali48.0%
#113🇱🇻Latvia46.6%A-
#114🏳️Malta46.2%A-
#115🏳️São Tomé and Príncipe45.4%
#116🇮🇸Iceland44.9%A
#117🇧🇼Botswana44.8%BBB+
#118🇷🇸Serbia44.2%BB+
#119🇭🇳Honduras44.1%BB
#120🇨🇱Chile43.7%A
#121🇳🇱Netherlands43.7%AAA
#122🏳️Eswatini43.5%
#123🇨🇿Czech Republic43.3%AA-
#124🇳🇴Norway42.5%AAA
#125🇿🇼Zimbabwe41.6%
#126🇳🇪Niger41.4%
#127🇮🇩Indonesia41.1%BBB
#128🇪🇹Ethiopia41.1%CCC
#129🏳️Burundi40.9%
#130🏳️Mauritania40.6%
#131🇵🇾Paraguay40.6%BB+
#132🇧🇩Bangladesh40.2%BB-
#133🇳🇮Nicaragua40.1%B+
#134🏳️Moldova39.2%
#135🇶🇦Qatar38.8%AA
#136🏳️Sierra Leone38.6%
#137🇰🇬Kyrgyzstan38.3%
#138🇮🇪Ireland38.3%AA
#139🏳️Equatorial Guinea38.1%
#140🏳️Guinea38.1%
#141🇱🇹Lithuania38.0%A+
#142🏳️Tonga37.8%
#143🏳️Belarus36.7%CCC-
#144🇮🇷Iran36.4%
#145🇨🇲Cameroon36.3%B-
#146🇨🇭Switzerland36.1%AAA
#147🇳🇬Nigeria35.0%B-
#148🇸🇪Sweden34.0%AAA
#149🇵🇪Peru33.6%BBB
#150🇬🇪Georgia33.4%BB
#151🇴🇲Oman33.0%BB
#152🏳️Comoros32.6%
#153🏳️Chad32.5%
#154🇦🇪United Arab Emirates31.9%AA
#155🇸🇦Saudi Arabia31.8%A
#156🇻🇳Vietnam31.8%BB+
#157🏳️Bosnia and Herzegovina31.6%
#158🇺🇿Uzbekistan31.0%BB-
#159🇦🇩Andorra30.7%
#160🇩🇰Denmark30.5%AAA
#161🇰🇭Cambodia29.3%
#162🇬🇾Guyana29.3%
#163🏳️Djibouti28.0%
#164🇬🇹Guatemala27.8%BB
#165🇰🇿Kazakhstan26.4%BBB
#166🇱🇺Luxembourg26.3%AAA
#167🏳️Solomon Islands25.1%
#168🇹🇷Turkey25.1%BB-
#169🇷🇺Russia24.8%CCC-
#170🇧🇬Bulgaria23.8%BBB
#171🇪🇪Estonia23.5%A+
#172🇦🇿Azerbaijan23.5%BB+
#173🇹🇯Tajikistan22.9%
#174🇹🇼TWN20.9%AA
#175🏳️UVK18.9%
#176🇵🇷Puerto Rico (US)18.7%
#177🏳️Samoa17.7%
#178🏳️Kiribati16.5%
#179🏳️Marshall Islands14.9%
#180🏳️Timor-Leste14.7%
#181🇨🇩DR Congo14.6%CCC+
#182🇭🇰Hong Kong14.0%AA+
#183🏳️Nauru13.0%
#184🇰🇼Kuwait10.7%A+
#185🏳️Haiti10.0%
#186🇦🇫Afghanistan8.8%
#187🏳️Micronesia6.8%
#188🇹🇲Turkmenistan3.6%
#189🏳️Tuvalu3.6%
#190🏳️Brunei2.3%
#191🇱🇮Liechtenstein0.5%
#192🇱🇾Libya0.1%

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: Official IMF figures

Standard IMF definition: central + state + local government + social security funds. No SOE or corporate adjustments. This is what most official sources report.