BANGALORE: With increasing recession and drowning economies, not only companies but most of the countries are under debt these days. Debt plays an important role in the economic status of a country. Not many countries in the world will be debt free. Have you ever thought about countries that live with least or zero debt? Checkout the list below compiled by THE RICHEST:

1. Palau: Palau is a tiny country with a population of just over 20,000 people. It is located in the North Pacific Ocean, which is in the southeast of the Philippines. The country’s economy is dependent on agriculture and fishing. Agriculture is mainly on a survival level and the principal crops are coconuts, root crops, and bananas. Fishing is also a potential source of revenue for the country. The country is said to be relying heavily on two things, one being tourism and the other, the U.S. government. The U.S. government agreed to pay Palau up to $700 million dollars in return for having access to military facilities on the island. In addition to that tourism industry has allowed Palau to remain debt-free.

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