The following lists sort countries by Stock of loans and debt issued by households as a percentage of GDP according to data by the International Monetary Fund and Institute of International Finance.
Country | 2021 | 2018 | 2017 | 2016 | 2015 | 2010 | 2005 | 2000 | 1995 | 1990 | 1985 | 1980 |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Afghanistan | 0.63 | 0.62 | 0.60 | 0.58 | 1.43 | |||||||
Albania | 12.29 | 11.21 | 11.30 | 11.27 | 11.28 | 11.88 | 5.04 | |||||
Algeria | 4.53 | 3.07 | 2.77 | 2.11 | 0.11 | |||||||
Argentina | 6.63 | 6.92 | 5.98 | 6.35 | 4.83 | 3.14 | 6.58 | 3.95 | ||||
Australia | 119.32 | 120.14 | 121.71 | 122.32 | 120.14 | 109.90 | 100.70 | 71.15 | 54.23 | 45.20 | 42.63 | 38.06 |
Austria | 51.82 | 48.92 | 49.21 | 50.42 | 50.21 | 54.36 | 51.72 | 45.28 | 41.30 | |||
Bangladesh | 6.82 | 7.75 | 7.99 | 7.65 | 7.73 | 8.47 | 7.80 | |||||
Belgium | 62.4 | 61.29 | 60.26 | 59.53 | 59.24 | 52.71 | 43.09 | 40.50 | 36.73 | 34.96 | 28.23 | 31.96 |
Brazil | 33.77 | 28.24 | 27.27 | 28.38 | 28.44 | 22.69 | 13.84 | 14.23 | 12.68 | |||
Bulgaria | 24.95 | 23.38 | 22.92 | 20.93 | 21.68 | 25.96 | 14.95 | 2.25 | 0.59 | |||
Cameroon | 4.28 | 3.70 | 3.56 | 3.71 | 3.38 | 1.95 | ||||||
Canada | 107.49 | 100.68 | 100.37 | 100.66 | 97.49 | 92.44 | 70.56 | 59.45 | 57.06 | 53.80 | 39.65 | 46.62 |
Central African Republic | 3.38 | 4.58 | 5.09 | 4.76 | 3.11 | 2.34 | ||||||
Chad | 2.78 | 2.87 | 3.01 | 2.54 | 1.28 | 0.81 | ||||||
Chile | 44.75 | 45.41 | 43.69 | 42.23 | 40.92 | 32.34 | 26.22 | |||||
China | 62.14 | 54.15 | 49.70 | 44.20 | 38.24 | 27.29 | ||||||
Colombia | 30.46 | 26.91 | 25.88 | 26.45 | 25.26 | 18.67 | 12.86 | 9.66 | ||||
Republic of the Congo | 3.43 | 4.22 | 4.60 | 4.58 | 1.27 | 0.72 | ||||||
Costa Rica | 29.11 | 32.11 | 31.89 | 30.53 | 29.10 | 23.01 | 18.21 | |||||
Croatia | 34.74 | 34.16 | 34.13 | 35.31 | 38.50 | 41.88 | 30.75 | |||||
Cyprus | 85.08 | 98.94 | 109.48 | 121.24 | 127.74 | 118.27 | 89.46 | 77.74 | 62.87 | |||
Czech Republic | 34.38 | 31.63 | 31.32 | 30.36 | 29.00 | 16.56 | 7.74 | 10.14 | ||||
Denmark | 104.36 | 115.15 | 117.14 | 119.17 | 119.09 | 135.29 | 111.79 | 85.60 | 74.11 | |||
El Salvador | 29.29 | 29.05 | 29.50 | 26.25 | 25.75 | 23.09 | 20.87 | |||||
Estonia | 37.85 | 38.37 | 40.47 | 41.42 | 40.30 | 53.40 | 32.03 | 8.66 | 1.86 | |||
Finland | 67.86 | 66.85 | 67.20 | 67.12 | 66.69 | 61.12 | 46.42 | 31.65 | 34.66 | 42.34 | 32.14 | 25.93 |
France | 66.61 | 60.00 | 58.62 | 57.22 | 56.25 | 53.70 | 41.60 | 34.08 | 33.22 | 32.50 | 27.19 | 22.34 |
Germany | 56.68 | 53.59 | 53.26 | 53.30 | 53.30 | 59.03 | 67.57 | 70.92 | 59.92 | 58.16 | 61.00 | 52.31 |
Greece | 55.16 | 52.38 | 56.18 | 59.94 | 62.21 | 61.08 | 39.72 | 13.94 | 6.26 | |||
Honduras | 33.66 | 31.68 | 29.20 | 29.59 | 29.14 | 24.82 | 17.14 | |||||
Hong Kong | 93.08 | 72.21 | 70.56 | 67.63 | 67.09 | 59.23 | 54.93 | 57.90 | 41.21 | 34.49 | ||
Hungary | 20.69 | 17.90 | 18.81 | 20.25 | 21.29 | 39.46 | 23.30 | 5.90 | 6.02 | 18.12 | ||
Iceland | 83.95 | 75.63 | 75.57 | 75.68 | 82.88 | 107.16 | 103.39 | 87.46 | 69.14 | 45.19 | 33.30 | 16.76 |
India | 34.60 | 34.48 | 33.57 | 32.39 | 32.8 | 35.11 | 7.90 | 2.55 | ||||
Indonesia | 17.25 | 17.01 | 17.04 | 16.98 | 16.80 | 13.55 | 11.48 | |||||
Ireland | 30.49 | 42.43 | 47.75 | 52.26 | 56.46 | 112.23 | 81.20 | |||||
Israel | 43.87 | 41.85 | 42.07 | 41.29 | 40.85 | 39.56 | 37.55 | 36.39 | 34.50 | |||
Italy | 43.58 | 41.00 | 41.31 | 41.51 | 41.87 | 43.63 | 32.96 | 22.69 | 17.48 | 16.69 | 6.21 | 6.13 |
Japan | 68.84 | 61.38 | 60.28 | 59.82 | 59.52 | 61.23 | 62.09 | 70.99 | 71.37 | 69.50 | 53.13 | 46.61 |
Kazakhstan | 12.86 | 9.14 | 9.09 | 9.29 | 10.72 | 10.26 | 9.02 | |||||
South Korea | 105.79 | 91.93 | 89.35 | 87.34 | 83.11 | 73.17 | 63.54 | 49.31 | 45.28 | 39.48 | 26.93 | 16.46 |
Latvia | 19.82 | 20.78 | 22.34 | 23.71 | 24.50 | 49.80 | 28.40 | 5.40 | 1.36 | |||
Lesotho | 15.78 | 12.30 | 11.37 | 10.54 | 10.27 | 6.10 | 3.69 | |||||
Lithuania | 23.89 | 22.85 | 22.62 | 22.77 | 22.16 | 29.65 | 13.77 | 1.51 | 1.35 | |||
Luxembourg | 66.01 | 66.79 | 66.80 | 65.29 | 60.07 | 57.12 | 45.48 | |||||
Malaysia | 73.05 | 68.02 | 66.22 | 69.14 | 69.74 | 58.75 | ||||||
Malta | 53.36 | 49.38 | 50.41 | 51.86 | 53.03 | 59.05 | 44.51 | 23.52 | 17.27 | |||
Mauritius | 36.45 | 32.38 | 32.23 | 33.05 | 33.34 | 32.25 | ||||||
Mexico | 16.24 | 16.05 | 16.12 | 15.96 | 15.24 | 13.24 | 10.96 | 7.86 | 11.76 | |||
Morocco | 28.57 | 29.73 | 29.63 | 30.47 | 30.64 | 28.30 | 19.48 | |||||
Myanmar | 1.90 | 1.92 | 2.00 | 1.49 | 0.45 | 0.32 | ||||||
Nepal | 37.81 | 37.30 | 36.63 | 38.81 | 30.25 | 25.66 | 10.74 | |||||
Netherlands | 101.47 | 103.42 | 105.53 | 108.29 | 110.34 | 118.74 | 108.00 | 87.82 | 61.81 | 50.87 | ||
New Zealand | 98.81 | 94.04 | 91.90 | 92.43 | 89.86 | 90.28 | 82.63 | 61.86 | 45.65 | 27.86 | ||
Nicaragua | 14.41 | 20.52 | 23.73 | 22.75 | 20.33 | 14.74 | 14.18 | |||||
North Macedonia | 30.34 | 25.35 | 24.48 | 23.11 | 22.43 | 18.08 | 8.15 | |||||
Norway | 99.15 | 100.35 | 101.74 | 101.18 | 95.21 | 81.85 | 68.94 | 52.49 | 55.35 | 70.25 | 53.71 | 42.82 |
Pakistan | 2.89 | 3.92 | 3.59 | 3.41 | 3.10 | 4.38 | ||||||
Peru | 15.54 | 16.14 | 15.28 | 14.96 | 15.08 | 10.20 | 6.87 | |||||
Poland | 32.35 | 35.14 | 35.04 | 36.67 | 36.04 | 34.17 | 15.00 | 7.15 | 2.25 | |||
Portugal | 68.12 | 66.15 | 69.42 | 72.41 | 76.70 | 90.67 | 79.88 | 58.80 | 28.33 | 15.14 | 12.08 | 9.98 |
Romania | 13.91 | 14.09 | 14.19 | 14.83 | 15.15 | 19.28 | 8.60 | |||||
Russia | 21.76 | 17.01 | 16.22 | 15.36 | 15.86 | 10.38 | 5.95 | 0.60 | ||||
Samoa | 24.86 | 20.64 | 19.90 | 18.88 | 17.83 | 18.36 | 16.50 | 13.07 | 8.02 | |||
São Tomé and Príncipe | 10.94 | 11.46 | 12.63 | 12.55 | 24.68 | |||||||
Saudi Arabia | 15.97 | 11.48 | 12.83 | 14.59 | 13.75 | 9.80 | 12.82 | 7.85 | ||||
Sierra Leone | 1.97 | 1.61 | 1.39 | 1.14 | 1.06 | 2.73 | 0.69 | |||||
Singapore | 58.35 | 54.21 | 58.64 | 58.50 | 58.07 | 47.00 | 43.31 | 37.10 | 31.51 | |||
Slovakia | 48.53 | 42.06 | 40.54 | 38.01 | 34.82 | 24.78 | 12.28 | 4.25 | 3.65 | |||
Slovenia | 26.37 | 27.01 | 26.97 | 27.31 | 27.62 | 30.36 | 18.76 | |||||
Solomon Islands | 7.98 | 7.69 | 7.51 | 8.28 | 7.35 | 6.04 | 3.12 | |||||
South Africa | 34.22 | 33.46 | 33.19 | 34.18 | 36.45 | 40.17 | ||||||
Spain | 58.44 | 58.86 | 61.24 | 64.12 | 67.63 | 83.49 | 70.23 | 45.08 | 30.71 | 30.39 | 23.05 | 24.01 |
Sri Lanka | 13.00 | 12.20 | 11.89 | 10.55 | 22.37 | |||||||
Sweden | 92.46 | 87.87 | 88.15 | 85.06 | 83.56 | 77.08 | 61.10 | 47.76 | 44.14 | 56.42 | 48.34 | 48.55 |
Switzerland | 131.91 | 128.70 | 127.72 | 126.34 | 123.79 | 111.53 | 111.71 | 103.43 | ||||
Tajikistan | 6.2 | 5.52 | 5.90 | 7.22 | 9.40 | 4.21 | 1.53 | |||||
Thailand | 90.03 | 78.62 | 78.03 | 79.03 | 80.77 | 59.27 | 45.08 | |||||
Turkey | 14.64 | 14.72 | 17.00 | 17.59 | 17.80 | 16.06 | 7.17 | 4.02 | 0.89 | 0.12 | ||
Ukraine | 4.67 | 5.66 | 5.84 | 6.86 | 8.80 | 19.42 | 7.81 | 0.63 | 0.24 | |||
United Arab Emirates | 22.55 | 22.18 | 24.33 | 27.19 | 25.16 | 28.13 | ||||||
United Kingdom | 86.11 | 87.19 | 86.12 | 86.25 | 85.55 | 93.67 | 85.82 | 62.91 | 57.91 | 57.51 | 41.90 | 29.87 |
United States | 78.03 | 75.86 | 77.58 | 78.77 | 78.46 | 90.71 | 91.46 | 69.92 | 64.19 | 60.24 | 53.43 | 49.39 |
Vanuatu | 33.16 | 34.55 | 35.56 | 35.24 | 36.61 | 32.84 | 16.25 |
Country | Q3 2019 | Q3 2018 |
---|---|---|
South Korea | 95.1 | 91.2 |
UK | 83.8 | 83.6 |
Hong Kong | 77.3 | 71.0 |
U.S. | 74.2 | 74.8 |
Thailand | 68.4 | 68.3 |
Malaysia | 67.8 | 68.0 |
China | 55.4 | 51.9 |
Japan | 55.3 | 55.6 |
Lebanon | 54.5 | 52.3 |
Singapore | 52.6 | 54.5 |
Chile | 47.2 | 44.5 |
Israel | 41.6 | 41.8 |
Poland | 35.0 | 35.2 |
South Africa | 34.2 | 33.2 |
Czech Republic | 31.9 | 32.0 |
Brazil | 28.7 | 27.1 |
Colombia | 27.0 | 27.3 |
UAE | 22.3 | 22.7 |
Russia | 18.3 | 16.8 |
Hungary | 18.1 | 18.1 |
Indonesia | 16.9 | 17.0 |
Mexico | 16.7 | 16.1 |
Philippines | 16.3 | 16.2 |
Nigeria | 15.6 | 15.5 |
Turkey | 14.1 | 16.0 |
Saudi Arabia | 11.6 | 12 |
Ghana | 11.5 | 11.2 |
Egypt | 7.3 | 7.0 |
Kenya | 7.2 | 7.9 |
Argentina | 6.2 | 7.1 |
Ukraine | 5.9 | 5.7 |
Pakistan | 2.7 | 2.8 |
Ghana | 2.5 | 2.8 |
In finance, default is failure to meet the legal obligations of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity.
Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a personal finance process of individuals addressing high consumer debt, but occasionally it can also refer to a country's fiscal approach to consolidate corporate debt or government debt. The process can secure a lower overall interest rate to the entire debt load and provide the convenience of servicing only one loan or debt.
The heavily indebted poor countries (HIPC) are a group of 39 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank.
A country's gross external debt is the liabilities that are owed to nonresidents by residents. The debtors can be governments, corporations or citizens. External debt may be denominated in domestic or foreign currency. It includes amounts owed to private commercial banks, foreign governments, or international financial institutions such as the International Monetary Fund (IMF) and the World Bank.
In economics, consumer debt is the amount owed by consumers. It includes debts incurred on purchase of goods that are consumable and/or do not appreciate. In macroeconomic terms, it is debt which is used to fund consumption rather than investment.
The debt of developing countries usually refers to the external debt incurred by governments of developing countries.
A country's gross government debt is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt.
The China Development Bank (CDB) is a development bank in the People's Republic of China (PRC), led by a cabinet minister at the Governor level, under the direct jurisdiction of the State Council. As one of three policy banks in China, it is responsible for raising funds for large-scale infrastructure projects, including the Three Gorges Dam and the Shanghai Pudong International Airport. Established by the Policy Banks Law of 1994, the bank is described as the engine that powers the national government's economic development policies.
Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region, is increased. In most modern economies, money creation is controlled by the central banks. Money issued by central banks is termed base money. Central banks can increase the quantity of base money directly, by engaging in open market operations. However, the majority of the money supply is created by the commercial banking system in the form of bank deposits. Bank loans issued by commercial banks that practice fractional reserve banking expands the quantity of broad money to more than the original amount of base money issued by the central bank.
Household debt is the combined debt of all people in a household, including consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent European economic crises of 2007–2012. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Eurozone countries.
In finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment. Unsecured debts are sometimes called signature debt or personal loans. These differ from secured debt such as a mortgage, which is backed by a piece of real estate.
Debt level is a measure of how much debt is outstanding. Debt flow is a measure of debt level changes over time. Both are basic macroeconomic variables. Debt is used to finance household consumptions, businesses, and government spendings. Within mainstream economics, the levels and flows of public debt are seen as a larger cause of concern than those associated with private debt.
The Latin American debt crisis was a financial crisis that originated in the early 1980s, often known as La Década Perdida, when Latin American countries reached a point where their foreign debt exceeded their earning power, and they were not able to repay it.
The global debt is 305 trillion US $ in 2022, including debt by public and private debtors. (A trillion is defined here as a million millions, or 1012.)
Real estate investing involves the purchase, management and sale or rental of real estate for profit. Someone who actively or passively invests in real estate is called a real estate entrepreneur or a real estate investor. Some investors actively develop, improve or renovate properties to make more money from them.
REC Limited, formerly Rural Electrification Corporation Limited is a subsidiary of Power Finance Corporation Limited (PFC) which in turn is under the ownership of the Ministry of Power, Government of India. It finances and promotes power projects across India. The PSU provides loans to Central/State Sector Power Utilities in the country, State Electricity Boards, Rural Electric Cooperatives, NGOs and Private Power Developers. On 20 March 2019, PFC signed the agreement to acquire a 52.63% controlling stake in REC for ₹14,500 crore (US$1.8 billion). On 28 March, PFC announced that it had completed making the payment for the acquisition and intended to merge REC with itself in 2020.
Debt-trap diplomacy is an international financial relationship where a creditor country or institution extends debt to a borrowing nation partially, or solely, to increase the lender's political leverage. The creditor country is said to extend excessive credit to a debtor country with the intention of extracting economic or political concessions when the debtor country becomes unable to meet its repayment obligations. The conditions of the loans are often not publicized. The borrowed money commonly pays for contractors and materials sourced from the creditor country.