According to a Microsoft Network (MSN) article, St. Vincent is one of the 30 countries with the highest debt levels in 2024.
The article cites statistics from the International Monetary Fund’s General Government Gross Debt-to-GDP database to determine which countries will have the largest public debt globally in 2024.
According to the article, in 2024, St. Vincent’s debt-to-GDP ratio stood at 89.2, with a GDP (PPP) of US$2.13 billion.
“The pandemic and volcanic eruptions in 2021 had a significant impact on the economy of Saint Vincent and the Grenadines.” The paper stated that fiscal responses to humanitarian emergencies led to increased governmental debt.
Other Caribbean islands on the list include the Bahamas ($19.05 billion), Dominica ($1.14 billion), and Barbados ($5.78 billion).
The United States made the list, with a debt of $27.97 trillion.
Japan has the highest debt-to-GDP ratio of 251.9, with a national debt of US$6.71 trillion.