Not Bangladesh, Pakistan; These Countries Are Heavily In Debt In 2024; Where Does India Stand?

Japan tops the list of the world's most indebted countries, with its debt reaching 216% of its total income (GDP). The government is actively working on various measures to address this significant economic concern. 

Greece follows closely behind Japan, with debt amounting to 203% of its GDP. The country has been facing a prolonged debt crisis, which continues to impact its economic stability. 

Surprisingly, the UK, one of the world's wealthiest nations, ranks third on the list with a debt of 142% of its GDP. This high debt level raises questions about the country's financial strategies and economic resilience.

Lebanon, with a debt of 128% of its GDP, holds the fourth spot. The country's economic woes are compounded by regional conflicts and political instability, adding layers of complexity to its financial situation. 

Spain's debt stands at 111% of its GDP. The country is navigating the economic aftermath of the Russia-Ukraine war and the COVID-19 pandemic, which have both significantly impacted its financial health. 

The United States, the world's largest economy, also appears on the list with a debt of 110% of its GDP. Contributing factors include continuous deficits, military engagements, the 2008 financial crisis, the COVID-19 pandemic, and tax policies.

India, despite being on the list, has a comparatively low debt of 46% of its GDP. Known for its robust economic policies, India is one of the fastest-growing economies in the world, showcasing a strong financial foundation.