Iceland the world's fifth most indebted nation Skip to content

Iceland the world’s fifth most indebted nation

Only four nations in the world, including three in Africa, carry more debt than Iceland, reports news station NFS.

According to Thorvaldur Gylfason, professor of economics at the University of Iceland, Iceland’s debt is now close to 3 times its GDP. Thorvaldur told NFS that according to figures from the World Bank, only Congo, Sao Tome & Principe and Guinea-Bissau, and Barbados in the Caribbean carry more debt compared to GDP than Iceland.

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