public debt

The former French colony and leading cocoa producer is weighed down by a public debt of around 60 percent of GDP, while huge gaps in education and health coverage remain.

The west African nation is now struggling to right its finances as it grapples with public debt amounting to about 119 percent of its GDP and a budget deficit of 14 percent.

Total public debt is now at 124% of GDP, higher than in the wake of World War II.

“Argentina has a local currency rejected by its population and no hard-currency reserves, mounting public debt with a history of default and no access to capital markets,” Gadano said.

The International Monetary Fund estimates that global public debt levels will rise to 100 percent of economic output by 2029, with much of that increase driven by the world's largest economies.