Is India in debt to any country?

India’s external debt was US$ 570 billion at the end of March 2021. It recorded an increase of US$ 11.6 billion over its level at end of March 2020. The external debt to GDP ratio increased to 21.1\% at end of March 2021 from 20.6\% an year ago.

Is high external debt bad?

High levels of external debt pose greater risks than internal debt because repayments in foreign currency are more exposed to exchange rate shocks. A country that lives persistently beyond its means will eventually become unable to make good on its fiscal promises, defaulting on its debt.

Is national debt good?

The U.S. public national debt is good: It leverages economic growth and reflects the excellent creditworthiness of the U.S. Interest on Treasurys—the cost of debt service—is income to the holders: millions of senior citizens, mutual and pension funds and state and local governments.

Is it bad to have external debt?

Excessive levels of foreign debt can hamper countries’ ability to invest in their economic future—whether it be via infrastructure, education, or health care—as their limited revenue goes to servicing their loans. This thwarts long-term economic growth.

Which country has lowest external debt?

In 2020, Russia’s estimated level of national debt reached about 19.28 percent of the GDP, ranking 14th of the countries with the lowest national debt….The 20 countries with the lowest national debt in 2020 in relation to gross domestic product (GDP)

Which country has highest external debt?

With great external debt comes great responsibility….Advertisement.