List of the World’s Most Indebted Countries for 2025 Released

Global financial institutions have released the list of the world’s most indebted countries for 2025, taking into account each nation’s total national debt, debt-to-GDP ratios, and, in some cases, both public and government borrowing.

Although different organizations present slightly varied rankings due to differing assessment criteria, the overall global debt hierarchy remains largely consistent.

One notable point in the 2025 rankings is that Pakistan does not appear among the world’s top most indebted nations this year. The following countries are projected to carry the heaviest debt burdens in 2025:

Japan

Japan is expected to remain the world’s most indebted nation, with its debt projected to reach 242% of its GDP.

Eritrea

Eritrea stands out with an estimated 210% debt-to-GDP ratio, significantly impacting its economic stability.

Singapore

Singapore’s public debt is forecast to reach 173% of its GDP, placing it among the highest-debt countries globally.

Greece

Greece continues to struggle with debt, expected to reach 149% of GDP in 2025.

Italy

Italy’s debt burden is projected to remain high at 138% of GDP, keeping it among Europe’s most indebted economies.

Bahrain

Bahrain’s debt level is rising rapidly, expected to climb to 131% of GDP, marking a major increase compared to previous years.

Sudan

Sudan’s debt burden is also heavy, with estimates around 128% of GDP, reflecting deep economic challenges.

Maldives

Tourism-dependent Maldives is projected to reach 125% of GDP in debt.

United States

Even the world’s largest economy is facing soaring debt, expected to hit 124% of GDP in 2025.

France

France’s public debt is projected at 116% of GDP, with analysts warning it may climb to 120% by the end of the decade.

The list highlights that several major and developed economies continue to grapple with severe debt challenges, suggesting long-term financial pressures ahead for 2025.