5 Countries with the Most Debt in the World

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1. Japan

Debt as a percentage of GDP in 2022: 261.3%

Easily topping the list of the 30 countries with the most debt in the world is Japan, the only country globally where the debt to GDP ratio is more than 200%. One of the reasons behind the high debt burden in Japan is the fact that it is home to an increasingly aging population, resulting in increased spend on healthcare, pension and social security.

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