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U.S. Tops List of Countries with the Largest External Debt


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#1 gamavor

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Posted 23 June 2009 - 03:19 AM



U.S. Tops List of Countries with the Largest External Debt

The World Bank maintains the database of Gross External Debt Positions
of countries.The top five countries with the largest external debt are
as follows:

Country External Debt in Millions Year-Over-Year Change
(at the end of 2008)
United States 13,641,807 1.6%
United Kingdom 9,388,012 -19.9%
Germany 5,250,499 1.8%
France 5,001,696 2.4%
Netherlands 2,439,864 -6.1%

The USA is the biggest debtor country with a total of $13.6 Trillion
at the end of 2008. On a year-over-year basis, this represents an
increase of 1.6%. In order to see the creditors to the US, you can
check my earlier post titled Top Ten Creditors to the USA. The country
with the second largest debt is the UK. Total external debt of the UK
stood at $9.3 T. Though this may seem large at first glance, it is
actually good since the UK reduced their debt by 19.9% from 2007. All
the top five debtor countries are developed rich countries.This is
fascinating since these countries are able to borrow so much money to
keep their economy moving forward.


The countries with the lowest amount of debt are:

Country External Debt in Millions Year-Over-Year Change
(at the end of 2008)
Armenia 3427 15.1%
Kyrgyz Republic 3467 8.8%
Paraguay 3507 11.7%
Moldova 4125 19.4%
Bolivia 5923 9.1%

All the above countries are small countries in the developing
world. Armenia has the lowest debt at $3.4B. However this was an
increase of 15.1% from 2007.

Some of the countries have been reducing their external
debt. Switzerland and the UK reduced it the most at nearly 20% from
2007. Other countries that have decreased their debt in 2008 include
Australia, Canada, Israel, Egypt, etc.

The list below shows the countries that reduced their debt in 2008:

Country Year-over-Year Change
Korea -0.7%
Egypt -2.2%
Uruguay -3.0%
South Africa -4.8%
Israel -5.1%
Italy -6.0%
Netherlands -6.1%
Canada -7.4%
Australia -7.4%
Hong Kong, China -7.7%
Belgium -14.3%
United Kingdom -19.9%
Switzerland -19.9%

The countries that increased their external debt in 2008 compared to
2007 are:

Country Year-over-Year Change
Georgia 26.8%
Japan 24.6%
Ukraine 20.4%
Hungary 20.0%
Moldova 19.4%
Malaysia 17.2%
Bulgaria 16.6%
Belarus 15.7%
Slovak Republic 15.6%
Armenia 15.1%
Chile 14.0%
Paraguay 11.7%
India 10.8%
Croatia 10.1%
Kazakhstan 10.1%
Turkey 10.1%

Georgia was the worst with an increase of over 25%. Hungary almost
collapsed due to the heavy debt load before it was rescued earlier
this year.

http://seekingalpha....t-external-debt



http://groong.usc.ed.../msg273981.html


#2 Sovereign

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Posted 30 April 2010 - 10:07 PM

Armenians,
This concerns you only if you're a real Armenian and not one of the disgusting multitudes who use their "Armenian-ness" just to make money by making connections. It's a fact that both Democrats and Republicans are in bed with the Turks. They are military and political allies with the Turks. (Both Turks and the US are NATO allies and in the case of a war between Armenia and Turkey, the US will be on the side of the Turks.) Yes, a few of them are designated to play good cop, bad cop long enough to obtain campaign contributions and votes from Armenian-Americans until the elections are over. Don't pretend that you don't know. Stop being self-hating and show some courage. Only a third political party can be truly sympathetic to the Armenian cause. Support one of them and be associated with the future of this country instead of its treasonous past, i.e., the Democrats and the Republicans -- who also betrayed the American people as you've seen throughout the banking and real estate debacles. YOU CAN AT LEAST STOP SUPPORTING OUR ENEMIES, THE DEMOCRATS AND THE REPUBLICANS by not voting for them and not giving them campaign contributions, can't you? (And you know that if an Armenian-American calls himself a democrat or a republican than he's corrupt and NOT a real Armenian.) Armenian; if you want to be able to call yourself a human being, this is what you must do. Otherwise, you're no better the vermin that Turks and establishment Americans think that you are.




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