Baku. 17 July. REPORT.AZ/ The volume of global debt grows at incredible pace.
Report informs citing the Gazeta.ru, the problem of debt is deepening after the central banks of the world suspend the liquidity of the economy as well as the prices of raw materials declined.
According to report by Fitch International Rating Agency, increasing debt burden endangers financial stability.
According to agency experts, over 20% of evaluated countries will have the maximum Debt/GDP ratio by the end of 2017.
CIA World Factbook has been announced rating of 10 countries with the highest debt / GDP ratio. Notably, countries at the top of ranking are leading the list not because of the high debt but due to the low GDP. Thus, Japan took first place in the list with 234.7% of debt / GDP. It is followed by Greece with 181.6%, Lebanon and Italy both took the third and fourth places with a ratio of 132.5%. Next places taken by Jamaica (130.1%), Portugal (126.2%), Eritrea (119.8%), Cabo-Verde (116.8%), Singapore (110.5%) and Grenada (110%).
The similar indicator in the United States is 106.7%. According to report of Trading Economics, Russia has lowest debt burden ratio among G20 countries (17%).