What is Germany's debt?
Germany's gross external debt amounted to €6.0 trillion at the end of the third quarter 2023; relative to gross domestic product (GDP) it decreased in the period under review.
Germany National Government Debt reached 2,784.6 USD bn in Sep 2023, compared with 2,825.3 USD bn in the previous quarter.
Germany External Debt reached 6,385.3 USD bn in Sep 2023, compared with 6,600.5 USD bn in the previous quarter. Germany External Debt: USD mn data is updated quarterly, available from Jun 1999 to Sep 2023. The data reached an all-time high of 6,966.9 USD bn in Dec 2021 and a record low of 1,851.3 USD bn in Jun 1999.
Japan's public debt stands at more than twice the size of its economy, by far the worst among industrial world. The latest estimate shows that the government will be saddled with record outstanding debt of 1,244.68 trillion yen at the end of March 2034.
Germany is another country in Europe that owes money to the US. The United States has been a major creditor to the country in the past as well.
The $34 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts.
Singapore is one of Asia's major financial centers. It is also one of the most prosperous countries on the planet. And all this has been achieved without taking on any meaningful public debt. In fact, very much like Norway, Singapore has more assets than debt.
Japan and China have been the largest foreign holders of US debt for the last two decades. Japan and China held almost 50% of all foreign-owned US debt between 2004 and 2006. However, this has declined over time, and as of 2022 they controlled approximately 25% of foreign-owned debt.
West Germany agreed to make small payments to the Allies but announced it would not pay off all of its World War I debts until Germany was a unified country again. West and East Germany were officially unified in 1995, and the country officially paid off its debts in October of 2010.
Treaty of Versailles
Allied victors took a punitive approach to Germany at the end of World War I. Intense negotiation resulted in the Treaty of Versailles' “war guilt clause,” which identified Germany as the sole responsible party for the war and forced it to pay reparations.
Did Germany pay ww2 debt?
After World War II both West Germany and East Germany were obliged to pay war reparations to the Allied governments, according to the Potsdam Conference. Other Axis nations were obliged to pay war reparations according to the Paris Peace Treaties, 1947.
Russia National Government Debt reached 287.8 USD bn in Jan 2024, compared with 285.4 USD bn in the previous month. Russia National Government Debt data is updated monthly, available from May 2009 to Jan 2024. The data reached an all-time high of 384.2 USD bn in Jun 2022 and a record low of 86.1 USD bn in May 2009.
Net debt (gross debt minus financial assets) of the Canadian general government decreased by $80.8 billion to $1,356.0 billion in 2022. The federal government's net debt declined by $31.7 billion (-3. 5%) and totalled $876.4 billion, while PTLGs' net debt decreased by $49.1 billion (-9. 3%) to $479.6 billion.
Years of elevated budget deficits, exacerbated by massive federal spending during the COVID-19 pandemic, have taken the debt to historic levels: totaling more than $26 trillion in 2023, U.S. federal government debt is now at its highest percentage of gross domestic product (GDP) since World War II.
All in all, our findings cast doubt on the common narrative that the US 'grew its way' out of its WWII debt. Over the 76 years from 1946 to 2022, economic growth without primary surpluses or interest-rate distortions would have reduced the debt/GDP ratio by only 22 percentage points, from 106% to 84%.
China owes the United States $1.3 trillion, which is the most debt out of all the countries that are its debtors. Japan was the primary debt holder until 2008, but now comes in second place, with $1.2 trillion. Other countries with outstanding U.S. debt include Russia, India and South Korea.
Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion. In isolation, this $7.4 trillion amount is a lot, said Scott Morris, a senior fellow at the Center for Global Development.
The least indebted state is Oklahoma, according to the report, followed by Iowa and a tie for third with New Hampshire and Nebraska. The fifth best state in the category is Ohio. The next five best states, from best to worst, are Wyoming, Indiana, and Wisconsin, with Vermont and South Dakota tied in their ranking.
The best example can be taken from Hong Kong (it is a one of the debt free countries), whose economy has the least debt to GDP ratio. It is an almost debt free country. It has a well-regulated financial system and large foreign reserves.
Jerome Kerviel, The Most Indebted Person In The World, Owes $6.3 Billion To Former Employer, Societe Generale. In a hyper-competitive world where everyone strives to be the biggest, boldest and most famous, no one covets Jerome Kerviel record-breaking achievement.
Is Switzerland in debt?
Federal debt stood at CHF 120 billion at the end of 2022, which corresponds to a debt ratio of 15.6% of GDP. The Maastricht debt ratio for the general government (Confederation, cantons and communes) was 27.6% of GDP at the end of 2022. Nevertheless, Switzerland's level of debt remains low by international standards.
Iceland is the safest country in the world, according to the latest Global Peace Index (GPI) ranking of 2023. The measurements target societal safety and security, domestic and international conflict, and militarization through 23 specific indicators.
If China “dumped” USA treasuries, they would take a serious monetary loss. The price of the treasuries would drop, effective raising the return for those who bought the bonds.
U.S. debt offers the safest haven for Chinese forex reserves, which effectively means that China offers loans to the U.S. so that the U.S. can keep buying the goods China produces.
Japan sells more to the U.S. than it buys from the U.S. and thus has excess dollars; Japanese investors can easily get a better and safer return by buying U.S. Treasury bonds than by buying other investment vehicles.
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