What is the debt-to-GDP ratio in one of the richest countries in Africa?
11 percent
Title: Economy of Greece
Passage: According to Der Spiegel, credits given to European governments were disguised as "swaps" and consequently did not get registered as debt because Eurostat at the time ignored statistics involving financial derivatives. A German derivatives dealer had commented to Der Spiegel that "The Maastricht rules can be circumvented quite legally through swaps," and "In previous years, Italy used a similar trick to mask its true debt with the help of a different US bank." These conditions had enabled Greek as well as many other European governments to spend beyond their means, while meeting the deficit targets of the European Union and the monetary union guidelines. In May 2010, the Greek government deficit was again revised and estimated to be 13.6% which was the second highest in the world relative to GDP with Iceland in first place at 15.7% and Great Britain third with 12.6%. Public debt was forecast, according to some estimates, to hit 120% of GDP during 2010.
Title: European Central Bank
Passage: As of 18 June 2012, the ECB in total had spent €212.1bn (equal to 2.2% of the Eurozone GDP) for bond purchases covering outright debt, as part of its Securities Markets Programme (SMP) running since May 2010. On 6 September 2012, the ECB announced a new plan for buying bonds from eurozone countries. The duration of the previous SMP was temporary, while the Outright Monetary Transactions (OMT) programme has no ex-ante time or size limit. On 4 September 2014, the bank went further by announcing it would buy bonds and other debt instruments primarily from banks in a bid to boost the availability of credit for businesses.
Title: History of the United States public debt
Passage: The history of the United States public debt started with federal government debt incurred during the American Revolutionary War by the first U.S treasurer, Michael Hillegas, after its formation in 1789. The United States has continuously had a fluctuating public debt since then, except for about a year during 1835 -- 1836. To allow comparisons over the years, public debt is often expressed as a ratio to gross domestic product (GDP). Historically, the United States public debt as a share of GDP has increased during wars and recessions, and subsequently declined.
Title: Canadian public debt
Passage: The Canadian government debt, commonly called the ``public debt ''or the`` national debt'', is the amount of money owed by the Government of Canada to holders of Canadian Treasury security. In 2013, this number stood at CAD $1.2 trillion across federal and provincial governments. With the total GDP somewhere around CAD $1.8 trillion, Canada's overall debt / GDP ratio is around 66%. ``Gross debt ''is the national debt plus intragovernmental debt obligations or debt held by trust funds. Types of securities sold by the government include treasury bills, notes, bonds, Real Return Bonds, Canada Savings Bonds, and provincial government securities.
Title: National debt of the United States
Passage: As of July 31, 2018, debt held by the public was $15.6 trillion and intragovernmental holdings were $5.7 trillion, for a total or ``National Debt ''of $21.3 trillion. Debt held by the public was approximately 77% of GDP in 2017, ranked 43rd highest out of 207 countries. The Congressional Budget Office forecast in April 2018 that the ratio will rise to nearly 100% by 2028, perhaps higher if current policies are extended beyond their scheduled expiration date. As of December 2017, $6.3 trillion or approximately 45% of the debt held by the public was owned by foreign investors, the largest being China (about $1.18 trillion) then Japan (about $1.06 trillion).
Title: Horn of Africa
Passage: Horn of Africa Countries and territories Djibouti Eritrea Ethiopia Somalia Major regional organizations Arab League, Common Market for Eastern and Southern Africa, Community of Sahel - Saharan States, Intergovernmental Authority on Development Population 122,618,170 (2016 est.) Area 1,882,757 km Languages Afar Arabic Amharic French Oromo Somali Tigrinya Religion Islam, Christianity, traditional faiths Time zones UTC + 03: 00 Currency Djiboutian franc Eritrean nakfa Ethiopian birr Somali shilling Capitals Addis Ababa (Ethiopia) Asmara (Eritrea) Djibouti (Djibouti) Mogadishu (Somalia) Total GDP (PPP) $247.751 billion (2016) Total GDP (nominal) $102,057 billion (2016)
Title: List of African countries by GDP (PPP)
Passage: Region Rank Country 2015 GDP (PPP) millions of International dollars -- Africa 5,736,700 Nigeria 1,192.00 Egypt 995.97 South Africa 724.01 Algeria 570.64 Morocco 274.53 6 Angola 185.25 7 Sudan 167.42 8 Ethiopia 159.22 9 Tanzania 150.4 10 Kenya 143.05 11 Tunisia 127.21 12 Ghana 113.35 13 Libya 92.88 14 Uganda 79.75 15 Ivory Coast 78.34 16 Cameroon 72.11 17 Zambia 64.65 18 Democratic Republic of the Congo 63.27 19 Botswana 37.16 20 Senegal 36.30 21 Madagascar 35.56 22 Gabon 34.41 23 Chad 33.73 24 Mozambique 32.00 25 Burkina Faso 31.18 26 Mali 29.15 27 Zimbabwe 28.90 28 Republic of the Congo 27.92 29 Equatorial Guinea 25.94 30 Mauritius 24.84 31 Namibia 24.51 32 Benin 21.16 33 Malawi 20.56 34 Rwanda 20.32 35 Niger 18.96 36 Mauritania 16.43 37 Guinea 15.28 38 Swaziland 10.87 39 Togo 10.82 40 Eritrea 7.94 41 Burundi 7.88 42 Somalia 5.90 43 Lesotho 5.78 44 Gambia 3.27 45 Liberia 3.78 46 Cape Verde 3.48 47 Djibouti 3.09 48 Seychelles 2.53 49 Guinea - Bissau 1.94 50 Central African Republic 1.62 51 Comoros 1.21 52 São Tomé and Príncipe 0.66
Title: Nigeria
Passage: As of 2015[update], Nigeria is the world's 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively. It overtook South Africa to become Africa's largest economy in 2014. Also, the debt-to-GDP ratio is only 11 percent, which is 8 percent below the 2012 ratio. Nigeria is considered to be an emerging market by the World Bank; It has been identified as a regional power on the African continent, a middle power in international affairs, and has also been identified as an emerging global power. Nigeria is a member of the MINT group of countries, which are widely seen as the globe's next "BRIC-like" economies. It is also listed among the "Next Eleven" economies set to become among the biggest in the world. Nigeria is a founding member of the Commonwealth of Nations, the African Union, OPEC, and the United Nations amongst other international organisations.
Title: United States
Passage: The United States has a capitalist mixed economy which is fueled by abundant natural resources and high productivity. According to the International Monetary Fund, the U.S. GDP of $16.8 trillion constitutes 24% of the gross world product at market exchange rates and over 19% of the gross world product at purchasing power parity (PPP).The nominal GDP of the U.S. is estimated to be $17.528 trillion as of 2014. From 1983 to 2008, U.S. real compounded annual GDP growth was 3.3%, compared to a 2.3% weighted average for the rest of the G7. The country ranks ninth in the world in nominal GDP per capita according to the United Nations (first in the Americas) and sixth in GDP per capita at PPP. The U.S. dollar is the world's primary reserve currency.The United States is the largest importer of goods and second-largest exporter, though exports per capita are relatively low. In 2010, the total U.S. trade deficit was $635 billion. Canada, China, Mexico, Japan, and Germany are its top trading partners. In 2010, oil was the largest import commodity, while transportation equipment was the country's largest export. Japan is the largest foreign holder of U.S. public debt. The largest holder of the U.S. debt are American entities, including federal government accounts and the Federal Reserve, who hold the majority of the debt.
Title: Economy of Texas
Passage: As a sovereign country (2016), Texas would be the 10th largest economy in the world by GDP (ahead of South Korea and Canada). Texas's household income was $48,259 in 2010 ranking 25th in the nation. The state debt in 2012 was calculated to be $121.7 billion, or $7,400 per taxpayer. Texas has the second largest population in the country after California.
Nigeria List of African countries by GDP (PPP)