The amount of debt a government holds is a crucial indicator for the sustainability of its finances. If the debt is excessively high—especially as a percentage of gross domestic product (GDP)—it may signal challenges in meeting financial obligations, potentially leading to economic instability. This graphic ranks government debt by country for advanced economies, using their gross debt-to-GDP ratio. The ranking is based on IMF Outlook from October 2023. Debt-to-GDP Ratio for Advanced Economies in 2023 From 20 economies analyzed, 11 have a debt-to-GDP ratio of over 100%. At the top is Japan, whose national debt has ... (full story)