While global debt stands at 94.7% of GDP in 2025, some countries are managing to avoid this systemic burden. Asia, for instance, is home to several countries with the lowest debt worldwide. In many ways, these are small economies with shrinking debt burdens and stable growth. In Europe, Liechtenstein is a clear outlier, with a debt-to-GDP ratio of just 0.5%. This graphic shows the countries (and some other jurisdictions) with the lowest government debt ratios in 2025, based on data from the IMF’s latest World Economic Outlook.
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