10 Nations of the world with the highest debt rate ever

1. Japan — 234.7%:

No doubt, most people think of Japan as a highly developed and prosperous country. With a GDP per capita of $39,306 in 2018, its economy is among the most advanced in the world, home to global powerhouses such as Toyota, Honda, Sony and Nintendo, just to name a few.

However, what many people don’t realize is that Japan is also the most debt-ridden country in the world

According to World Population Review, Japan has a populaton of 127,185,332 and has the highest national debt in the world at 234.18% of its GDP. The counry has seen its economy face a rapidly aging population and glacially slow rates of growth thanks to weak productivity in recent years.

Japan’s national debt currently sits at ¥1,028 trillion ($9.087 trillion USD). After the stock market crashed in Japan, the government bailed out banks and insurance companies and provided them with low-interest credit.

Banking institutions had to be consolidated and nationalized after a period of time and other fiscal stimulus initiatives were used to help reboot the struggling economy. Unfortunately, these actions caused Japan’s debt level to skyrocket.

2. Greece —181.78%