The United States has the world's highest total national debt (trillions of dollars), but Japan often leads in debt as a percentage of its GDP, with other nations like Greece or Sudan sometimes having even higher debt-to-GDP ratios, depending on the year and source. The answer depends on whether you mean the absolute dollar amount or the debt relative to the size of the economy (GDP).
The top three estimated foreign holders of federal debt by country, ranked in descending order as of December 2024, are Japan ($1.1 trillion), China ($0.8 trillion), and the United Kingdom ($0.7 trillion).
As of December 2025, Switzerland, Fiji, Cambodia, Japan, and Thailand had the lowest interest rates in the world.
The current official cash rate as determined by the Reserve Bank of Australia (RBA) is 3.60%. The next RBA Board meeting and Official Cash Rate announcement will be on the 3rd February 2026.
The U.S. ($38.3T) and China ($18.7T) are the two countries with the most government debt, and together make up just over half of the world's total debt ($110.9T). The top five countries make up 67% of the world's government debt, while the top 10 make up 81%.
Eliminating the U.S. government's debt is a Herculean task that could take decades. In addition to obvious steps, such as hiking taxes and slashing spending, the government could take a number of other approaches, some of them unorthodox and even controversial.
Another example is Liechtenstein, nestled between Switzerland and Austria. This tiny principality boasts one of the highest GDPs per capita globally, largely due to its favorable tax policies and strong banking sector. Here too, fiscal prudence means no national debt—a rarity among nations today.
*Countries with the highest national per capita debt* (2025 estimates) 1. Japan $95,000: Debt > 250% of GDP, mostly domestic; aging population drives spending 2. United States $80,000: Debt > 130% of GDP 3. Italy $70,000: Debt 150% of GDP 4.
Top 20 Countries that Owe the US Money
The U.S. dollar would depreciate and the yuan would appreciate if China called in all its U.S. holdings, making Chinese goods more expensive.
Australians are reporting the highest levels of financial stress in over a decade, according to a new report card on the nation's welfare.
"FDI lending accounts for more than three quarters (77 per cent) of China's official sector lending portfolio in Australia," Ms Escobar said. "[Australia] has received Chinese FDI loans worth more than $US100 billion, as compared to the US, which has received less than $US75 billion."
Victorians will continue to be the most tax burdened people in the country, with tax revenue expected to increase by 22.3 per cent from now to 2029, with the COVID debt levy set to continue to increase over the forward estimates by $300 million to $1.4 billion in 2029.
Once the debt limit is reached, the Treasury can't sell any more bonds and other securities to pay off the debt from previous deficits. Put simply: it can't get cash to pay off bills the government has already accumulated. If the U.S. can't pay those bills, then it defaults on the national debt.
If you're carrying a significant balance, like $20,000 in credit card debt, a rate like that could have even more of a detrimental impact on your finances. The longer the balance goes unpaid, the more the interest charges compound, turning what could have been a manageable debt into a hefty financial burden.
The phrase “Trump IRS forgiveness” is often used to describe speculative or proposed tax relief measures tied to Donald Trump's campaign promises or tax policies during his presidency. However: No legislation has been passed in 2025 to forgive IRS tax debt due to Trump's re-election campaign.
Jerome Kerviel: The most indebted person in the world, owes $4.9 billion. Under the breeze of today's dropping economy, you might find it hard to repay $5,000 even if given some period. You might try to escape leaving everything behind if you find that you need to pay off $1, 00,000 in debt.
In fiscal year 20261, the federal government has collected $740 billion in revenue. The federal government collects revenue from a variety of sources, including individual income taxes, payroll taxes, corporate income taxes, and excise taxes.
How much interest will I earn on £100,000 per month? The interest rate of the account you deposit the £100,000 in will determine how much interest it earns. For example, if you put it into an account paying 4.00% AER, you would earn £4,000 in interest over one year, which equates to around £333 per month.