5 Countries with the Highest Debt to GDP Ratios

In this article we are going to list the 5 countries with the highest debt to GDP ratios. For our extended coverage please see 25 Countries with the Highest Debt to GDP Ratios. 

5. Lebanon

• Current Debt-to-GDP Ratio: ~164%
• Trend Since 2023: Stable (Crisis State)
• Analysis: Lebanon’s economy remains in a state of suspended animation. Since 2023, there has been little progress on a definitive IMF deal or banking sector reform. The debt-to-GDP ratio remains at a staggering 164% (though some estimates vary due to multiple exchange rates), representing a complete collapse of the national financial system.