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. Today’s 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. SOURCE
Government Debt In Advanced Economy Countries: U.S. 6th Highest; Canada 10th
For the U.S. and Canada, gross debt levels were adjusted to exclude unfunded pension liabilities of government employees’ defined-benefit pension plans.