15 Countries That Own the Most U.S. Debt
The United States has the highest debt in the world, and countries like France, Singapore, Brazil, Hong Kong, and India are among the top holders of U.S. debt.
Topics
Posted 8/23/2023, 10:22:57 PM
yahoo.com
Relevant topic timeline:
The US government's debt has reached a record high of almost $33 trillion, causing concerns about its impact on the nation's finances and the risk of a debt crisis, according to experts like Larry McDonald, Ray Dalio, and Nouriel Roubini.
The debt of the United States has reached record levels and continues to grow, raising concerns among investment gurus and market minds about its long-term consequences on the economy and financial markets.
Utah has been ranked as the most debt-ridden state in the US, with households owing an average of 138% of the state's annual salary, primarily due to factors such as high auto loan and mortgage debt, as well as the state's young demographic.
The USA is currently the world's largest economy with a GDP of over $23 trillion, followed by China, Japan, Germany, and India.
The U.S. debt is expected to reach $2 trillion this year, doubling from the previous year, due to a decline in global economic growth.
The US dollar's dominance as the world's reserve currency is at risk due to growing debt in the US, according to economist Barry Eichengreen, highlighting the importance of controlling debt to maintain the dollar's global role.
The top 10 African countries with the highest debt-to-GDP ratio are Eritrea, Cape Verde, Mozambique, Republic of the Congo, Sierra Leone, Ghana, Egypt, Gambia, Senegal, and Morocco.
The US's $32 trillion debt may not be as dire as it seems, as experts point out misconceptions about the national deficit and its impact on the economy. However, future debt problems could arise due to current spending rates.
The US national debt has reached a record high of $33 trillion, prompting the need for leaders to decide whether to raise the debt ceiling, as inflation continues to rise and there is a looming government shutdown.
Global debt reached a record $307 trillion in Q2 2023, driven by the United States and Japan, despite rising interest rates hampering bank credit, according to the Institute of International Finance (IIF).