In October, Italy’s public debt rose over 2 trillion euros. Public debt is also known as national debt and it is the sum of all debts of a government. Governments therefore borrow by issuing securities and bonds. However, if the debt as a percentage of the gross domestic product (GDP) is regarded as risky, the less likely that investors will invest in these government bonds. So which countries have a huge public debt as a percentage of the GDP? Check out our next list of countries by public debt!

Top 10 countries by public debt

1. Ireland – 104,95% of GDP
2. Portugal – 106,79% of GDP
3. Barbados – 117,25% of GDP
4. Italy – 120,11% of GDP
5. Eritrea – 133,82% of GDP
6. Lebanon – 136,22% of GDP
7. Jamaica – 138,98% of GDP
8. Saint Kitts and Nevis – 153,41% of GDP
9. Greece – 160,81% of GDP
10. Japan – 229,77% of GDP

Source: IMF estimate in 2011