But it isn’t just major European countries that made this list. Island nations like St. Kitts & Nevis have amassed massive public debt.
We’ve ranked the 15 states, with the worst debt to GDP ratios and added CDS prices, (where available), to point out what the market thinks of their outlook.
Debt as percent of GDP: 196.3
5-Year CDS spread: N/A
Debt outlook: St. Kitts & Nevis announced that it will be restructuring its debt. The two-island nation is looking to get creditor cooperation in restructuring its public debt stock that is said to total about $1 billion. Treasury bills are not going to be a part of the restructuring however.
2010 debt ratio estimates provided by CIA and Eurostat. CDS pricing as at July 13, provided by CMA Datavision via Bloomberg.
#2 St. Kitts & Nevis
#13 Sri Lanka