Just as individuals or companies may make purchases on credit or take out a loan to boost their finances, national governments often borrow money to further their country’s growth or well-being. When this happens, the money borrowed becomes part of that country’s national debt. Stated simply, national debt is the combined debt a country’s government owes one or more lenders, such as other governments, various corporations, or even private individuals (such as with treasury bonds). But which countries have the world’s highest national debt? The answer to that question merits a bit of explanation.
In terms of raw dollars, the country with the highest debt in the world is unquestionably the United States, whose national debt is more than twice that of any other country.
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