10 Countries Facing Huge External Debt

Italy

After World War II, Italy was rapidly transformed from an agriculture based economy into one of the world's most industrialized nations and a leading country in world trade and exports. It is a developed country, with the world's 8th highest quality of life in 2005 and the 24th Human Development Index. In spite of the recent global economic crisis, Italian per capita GDP at purchasing power parity remains approximately equal to the EU average, while the unemployment rate (8.5 percent) stands as one of the EU's lowest. The country is well known for its influential and innovative business economic sector, an industrious and competitive agricultural sector (Italy is the world's largest wine producer), and for its creative and high-quality automobile, industrial, appliance and fashion design.

External debt: $2.22 trillion

Per capita debt: $36,841

Percent of GDP: 108