19th March, 2024
CHIRANJIT MITRA
National debt – a burden on economies and future generations. Let's explore the countries deepest in the red.
Japan tops the list with a staggering debt-to-GDP ratio of over 250%!
The US is just a little behind! Its debt exceeds the entire size of its economy.
European powerhouses like Greece and Italy struggle under mountains of debt.
But why does debt matter? It limits growth, raises taxes, and can trigger crises.
High debt = high-interest payments, draining money from vital services.
Some countries manage debt better. Germany's lower ratio shows it's possible.
Can heavily indebted nations climb out? It takes tough choices and long-term planning.
The debt crisis is a global issue. Will the world find solutions?