Poorer countries now owe Saudi Arabia more than America
Government debt owed by low- and middle-income countries to each lender, US$ billion, 2010–2024.
- 1. Central banks now hold more gold than Treasuries or euros
- 2. China now pays the world mostly in yuan
- 3. Migrants now send home four times all foreign aid
- 4. Tether now holds more US Treasuries than the UAE
- 5. Developing countries' interest bill has nearly tripled since 2010
- 6. Poles edge past the Japanese in income per person
- 7. In dollars, Nigeria's economy has more than halved since 2014
- 8. Argentina's monthly inflation fell from 25.5% to 1.9%
- 9. Guyana now produces more per person than America
- 10. Ukraine received four times the aid of any other country
- 11. Singapore now draws twice as much foreign investment as China
- 12. 22 governments now owe more than a year's national output
- 13. Money sent home to Guatemala nearly quadrupled in ten years
- 14. In purchasing power, Russia's economy is now bigger than Japan's
- 15. Colombians abroad now send home more than foreigners invest
- 16. 72 countries now pay China more than it lends them
- 17. Pakistan rose to first place in Chinese energy finance
- 18. Money sent home now tops half of Tajikistan's economy
- 19. Pakistan passed India in tech's share of services exports
- 20. Mongolia leapt from 2% to 58% paying utilities by phone
- 21. Smaller currencies' share of world reserves has more than doubled
- 22. Phone savers now outnumber bank savers in 32 countries
- 23. Uzbekistan now receives more than twice Ukraine's remittances
- 24. Fewer countries owe China more than the World Bank
- 25. Poorer countries now owe Saudi Arabia more than America
owed to Saudi Arabia by low- and middle-income governments in 2024, up from $3.8bn in 2010.
the fall in debt owed to the United States since 2010, to $2.8bn. India, Kuwait and Korea are now owed more too.
the year Saudi Arabia passed America. It has stayed ahead every year since, and was owed 7.2 times as much in 2024.
the numbers & method
| Year | Saudi Arabia (bn) | United States (bn) | India (bn) | Kuwait (bn) | Korea (bn) |
|---|---|---|---|---|---|
| 2010 | 3.8 | 13.3 | 2.7 | 6.6 | 3.1 |
| 2011 | 4.0 | 12.4 | 4.3 | 6.6 | 3.4 |
| 2012 | 6.2 | 13.0 | 5.0 | 6.7 | 4.1 |
| 2013 | 8.2 | 12.5 | 5.7 | 8.8 | 4.8 |
| 2014 | 8.4 | 11.9 | 6.2 | 8.5 | 5.6 |
| 2015 | 10.7 | 11.0 | 6.5 | 10.4 | 6.4 |
| 2016 | 13.0 | 11.3 | 7.2 | 10.5 | 7.7 |
| 2017 | 14.2 | 12.4 | 7.9 | 10.7 | 8.9 |
| 2018 | 15.1 | 11.4 | 8.2 | 11.1 | 9.3 |
| 2019 | 17.1 | 10.2 | 8.6 | 11.7 | 9.3 |
| 2020 | 15.8 | 9.5 | 10.2 | 12.1 | 10.1 |
| 2021 | 18.8 | 8.4 | 10.3 | 12.3 | 10.2 |
| 2022 | 19.4 | 6.9 | 11.7 | 12.3 | 9.8 |
| 2023 | 21.7 | 5.0 | 14.0 | 12.2 | 9.8 |
| 2024 | 20.2 | 2.8 | 13.8 | 12.9 | 9.7 |
Claim types Fact
Read from the World Bank IDS API (source 6, last updated 5 Nov 2026): public and publicly guaranteed (PPG) bilateral external debt stock, DOD, current US$ (DT.DOD.BLAT.CD), debtor group low & middle income (LMY), by creditor: United States (302), Saudi Arabia (566), Kuwait (552), India (646), Korea, Rep. (742). 2024 values: Saudi Arabia 20.17 bn, India 13.85 bn, Kuwait 12.93 bn, Korea 9.70 bn, United States 2.79 bn (2010: 3.81 bn and 13.26 bn). Chart values rounded to 0.1 bn. The −79% change, the 7.2× ratio and the 2016 crossing are progrss calculations. The API also lists 2025 values; they are left out because the release does not mark them as final. Debt stocks are amounts owed, not new lending; most US development finance is grants, which this series excludes. China, the largest bilateral creditor (148.7 bn in 2024, counterpart 730), is not charted: the plate compares Saudi Arabia with the former leading Western lender. Membership of the low & middle income group can change over time. Licence: CC BY 4.0.
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