Debt to GDP Ratio: 164%
Lack of access to international markets, long years of political instability, and economic sanctions have all been reasons for a high debt-to-GDP ratio for Eritrea. Consistent debt-financed budget deficits will also continue to be the reason for the high ratio in the long term. However, the rise in global demand for metals means revenues are gradually picking pace. As of 2021, Eritrea’s external debt stood at $744,742,728.
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I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.
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