Top Ten Countries With External Debt
Tuesday, December 15, 2009
Dubai isn't the only part of the world that is managing debt payments, despite the recent coverage about debt restructuring at Dubai World. Here's the top 10 countries by external debt - the total public and private debt owed to non-residents, repayable in foreign currency, goods, or services. These figures are calculated on an exchange rate basis. All information is from the CIA World Factbook and is current up to December 31, 2008. The list might just surprise you...
10. Luxembourg External debt: $2,020,000,000, 000 ($2 trillion)
9. Japan External debt: $2,231,000,000, 000 ($2.2 trillion)
8. Spain External debt: $2,317,000,000, 000 ($2.3 trillion)
7. Italy External debt: $2,328,000,000, 000 ($2.3 trillion)
6. Ireland External debt: $ 2,356,000,000, 000 ($2.4 trillion)
5. Netherlands External debt: $2,461,000,000, 000 ($2.5 trillion)
4. France External debt: $4,935,000,000, 000 ($4.94 trillion)
3. Germany External debt: $5,158,000,000, 000 ($5.2 trillion)
2. United Kingdom External debt: $ 9,041,000,000, 000 ($9 trillion)
And at #1?
The United States, with an external debt of $13,750,000, 000,000 ($13.75 trillion)
So where does the UAE come on the list? 33rd, with an external debt of $134,700,000, 000 (134.7 billion) - or in short, the UAE's external debt as a whole (which includes that of Dubai World) would need to be 15 times larger to make it into the top 10.
Labels: Dubai Crisis, Economy and Business
posted @ 5:04 PM,
1 Comments:
-
At January 20, 2010 at 11:53 AM,
Unknown said...
-
Guess what chief, this list makes more sense if you compare external debt with the GDP of the country. The United States has a GDP 69 times larger than the UAE. So comparatively the United States is 20th at a ratio of 94.3% debt/income ratio. That puts the UAE at 67% debt/income ratio. If the UAE loses another $56 billion it will EQUAL the United States in terms of spending as much as its making. This is completely possible since assets of UAE are not being appraised right now for fear of an even larger debt will be discovered. Imagine every billion dollar skyscraper they built is only worth $500 million (or less) thats a 200% debt/income ratio! Please show charts that put things in perspective and not just for shock value.
Post a Comment