WASHINGTON – India has entered the world’s top ten most indebted nations, ranking 7th globally with a national debt of $3 trillion, according to the latest report released by the American research institute, World Population Review.
The report reveals that every Indian citizen now carries an average debt of $504, as the Indian government spends billions of dollars annually just on interest payments — even as millions continue to face challenges in accessing basic amenities like food, clean water, and healthcare.
In comparison, Pakistan ranks 33rd on the global list with a total debt of $260.8 billion, translating to $543 per citizen, while Bangladesh holds a debt of $177.6 billion, meaning each Bangladeshi owes around $611.
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At the top of the list is the United States, burdened with a colossal $32.9 trillion debt, which equates to nearly $76,000 per American.
Other major indebted economies include:
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China: $15 trillion
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Japan: $10.9 trillion
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United Kingdom: $3.4 trillion
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France: $3.4 trillion
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Italy: $3.1 trillion
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India: $3 trillion
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Germany: $2.8 trillion
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Canada: $2.3 trillion
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Brazil: $1.8 trillion
Among smaller economies, Afghanistan has the lowest national debt at $1.6 billion, meaning each Afghan carries only $30 in debt.
However, when measured per capita, Ireland tops the global list, where each citizen owes an astonishing $614,000, highlighting the immense disparity in national debt distribution worldwide.
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Within the Muslim world, Indonesia ranks as the most indebted nation with a $543 billion debt, followed by Egypt ($377 billion), Turkey ($330 billion), Saudi Arabia ($280 billion), and Malaysia ($278 billion).
Economists warn that the rapid accumulation of debt among developing economies could exacerbate fiscal vulnerabilities and undermine long-term growth prospects, especially amid global inflation and tightening financial conditions.