10 Countries With Highest Debt In The World

By siliconindia | Thursday, 12 September 2013, 12:36 Hrs

8. Mexico

Rank-8

Gross foreign debt and foreign debt payments- 88 percent

About 46.2 percent of the country’s total population was under poverty in 2010, according to National Council on Evaluation of Social Development Policy. Mexico has however shown an impressive growth rate of 3.9 percent during 2012 and the GDP is expected to grow 3.5 percent during 2013.

9. Argentina

Rank-9

Gross foreign debt and foreign debt payments- 75 percent

Argentina has suffered throughout the 20th century from economic crisis, high inflation, external debt and many other crises. The country saw the most dreadful economic, political and social crisis in 2001. During 2002, the real GDP was 18 percent smaller than in 1998 and almost 60 percent of the total population was under poverty. The economy has slowed down in 2011 after seeing a momentary rise in 2010.

10. Columbia

Rank- 10

Gross foreign debt and foreign debt payments- 74 percent

Columbia has the highest unemployment rate of 10.3 percent in all of Latin America. The economy has suffered due to poor infrastructure, recent flood and over-dependence on oil exports which makes it vulnerable to drop in petrol price. The GDP per capita of the country is $10,700 as of 2012.