When it comes to countries with debt we always consider those ones that have the most; but what about the countries with the least debt in the world? If you are interested in this topic, you are the very right place as Insider Monkey has come up with a great compilation again. Some countries choose to borrow money either from other countries or from the citizens through the sale of bonds, while others prefer to live within their means. This is the same situation as that of us, the citizens, who sometimes choose to borrow money from the bank or family members, while other prefer to make do with what they have and not become indebted. Those least indebted make our list of countries with the least debt in the world.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three countries with the least debt in the world from their list.
The first one is Kosovo. Located in Southeast Europe, between Serbia and Macedonia, Kosovo seems to be one of the few European nations on our list of countries with the least debt in the world. The country’s estimated GDP for 2016 was calculated at $18.44 billion, while the country’s 10.6% public debt as part of the GDP was calculated based on the 2014 numbers. The next country is Kiribati, a nation that’s actually formed of 33 coral atolls in the Pacific Ocean. With a total area of 811 square kilometers and a population of just over 108,000 people, Kiribati isn’t exactly the largest or most populated nation in the world. Kiribati’s GDP was calculated at just $212 million, while its debt barely hit 8.6%. The country actually has few natural resources and is highly dependent on imports and foreign aid. It is considered that Kiribati is one of the least developed countries in the Pacific. Finally we should check out Wallis and Futuna. If you haven’t heard about Wallis and Futuna, you shouldn’t be too upset. After all, the series of islands in the South Pacific Ocean barely cover 142 square kilometers of land, making it just 1.5 times larger than Washington, DC. It is also home to just under 16,000 citizens. The GDP was estimated at $60 million back in 2004, with the public debt sat at 5.6% that year. The economy here is largely limited to traditional agriculture. Revenues come from subsidies from the French government, as well as from licensing of fishing rights to Japan and South Korea.
For any further useful information, read Insider Monkey’s article about top 10 countries with the least debt in the world.