Debt-to-GDP is Soaring in These 20 Countries
January 27, 2026—Debt is soaring across the world, but especially in countries considered part of the West. Five out of the seven G7 countries are in the top 10 debtor countries. Debt is measured as a ratio of the size of the economy (gross domestic product). See below how government debt in some countries, such as Japan, the United States, United Kingdom, France, Spain, and Canada, grew over the past two decades.
*The illustrations do not include data from Mexico, Bangladesh, Myanmar, Singapore, most countries in Africa, including Libya, Eritea, Sudan, Kenya, and South Africa, and several countries in South America and Central America. Source: IMF
