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

[gamavor]

 

 

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.com/article/144442-u-s...t-external-debt

 

 

 

http://groong.usc.edu/news/msg273981.html

 

[Sovereign]

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.