According to the latest update from the International Monetary Fund (IMF), global government debt has surged to a record high, surpassing USD110.9 trillion in 2025. While all countries carry some level of public debt, the bulk of this burden is concentrated in the world’s largest economies.

As reported by India Times, using the IMF’s World Economic Outlook released in October 2025, this ranking examines the top 10 countries with the highest gross general government debt in absolute U.S. dollar terms and explains the factors behind their positions.

It is worth noting that travel dynamics are closely linked to a country’s economic conditions and public spending, making travel policies inseparable from these factors. With global government debt projected to reach unprecedented levels, a handful of countries now dominate the global debt landscape. The data is sourced from Visual Capitalist.

The eight countries with the highest government debt are as follows:

1. United States (USD38.27 trillion)
   The United States remains the world’s largest government borrower, accounting for just over one-third of global public debt. In the past year alone, U.S. national debt increased by approximately USD2.9 trillion, driven by persistent fiscal deficits, rising interest payments, and long-term spending obligations. Despite its size, the U.S. continues to borrow at relatively favorable rates due to the dollar’s status as the world’s reserve currency.

2. China (USD18.68 trillion)
   China ranks second with nearly USD18.7 trillion in government debt. While still far below the U.S. level, China recorded the fastest annual debt growth in 2025 at 13.6%, adding roughly USD2.2 trillion in just one year. This increase has been fueled by ongoing state-led investment, local government financing needs, and economic stabilization efforts.

3. Japan (USD9.83 trillion)
   Japan stands out with one of the highest debt-to-GDP ratios, around 230%, the highest among major economies. Its total government debt amounts to USD9.83 trillion. However, debt growth in 2025 was relatively modest at around USD200 billion, or just over 2%, slightly easing the burden relative to GDP.

4. United Kingdom (USD4.09 trillion)
   The United Kingdom’s public debt stands at approximately USD4 trillion. Years of fiscal expansion, combined with heavy borrowing during the pandemic, have steadily pushed national debt higher. Despite recent efforts to rein in borrowing, current debt levels remain significantly above historical norms.

5. France (USD3.92 trillion)
   France follows with government debt totaling USD3.92 trillion. Structural spending on pensions, healthcare, and social welfare, along with slower economic growth, has kept debt elevated. France remains one of Europe’s most indebted major economies, both in absolute and relative terms.

6. Italy (USD3.48 trillion)
   Italy carries USD3.48 trillion in debt, reflecting decades of heavy borrowing and weak economic growth. Although the pace of debt accumulation has slowed recently, Italy continues to bear one of the heaviest debt burdens in the eurozone relative to the size of its economy.

7. India (USD3.36 trillion)
   India ranks seventh with government debt of USD3.36 trillion. While substantial in absolute terms, this level of debt is often viewed in the context of India’s rapidly expanding economy, one of the fastest-growing among major nations.

8. Germany (USD3.23 trillion)
   Germany’s government debt stands at USD3.23 trillion. Despite its reputation for fiscal prudence, Germany ranks high due to the sheer scale of its economy. Debt levels rose following economic support measures and energy-related spending, although its debt ratio remains relatively lower than that of many peer countries.