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Sizing Up G20 Members’ Public Debt: Who’s Ahead & Who Can’t Keep Afloat

The G20 is an international forum that brings together the leaders of the world's 20 largest economies to discuss global economic issues, financial stability, and other pressing global challenges.
Russia has managed to reduce the volume of public debt in dollars by 12%, to $285 billion showing the best result among the G20 countries, according to Sputnik's calculations based on data from the national finance ministries.
Only three countries reduced their liabilities in dollar terms: in addition to Russia, Argentina reduced its national debt by 7% to $371 billion, and Japan by 4% to $9.1 trillion.
In terms of public debt, South Africa has the smallest amount with only $195 billion, followed by Turkiye with $260 billion, Saudi Arabia with $284 billion, and Russia with $285 billion.
In 2023, Mexico experienced a nearly 30% increase in its public debt, making it the country with the highest debt in dollar terms among the world's largest economies. Meanwhile, the United States holds the largest debt among the G20 nations, standing at a staggering 34 trillion dollars, which accounts for 50.6% of the total debt within the group.
Take a look at Sputnik's infographics showing the biggest debtors in the G20.
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