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Singapore has 8th highest public debt in the world after bankrupt Greece

Watchman

Alfrescian
Loyal

CIA Factbook:
Singapore has 8th highest public debt
in the world after bankrupt Greece


publicdebt.jpg


January 7th, 2011 | Author: Editorial

According to the latest CIA Factbook
released in 2010, Singapore has the
8th highest public debt to GDP ratio
in the world after bankrupt states
Zimbabwe (1st) and Greece (6th):

[Source: http://en.wikipedia.org/wiki/List_of_sovereign_states_by_public_debt]

Public debt to GDP ratio is a measure
of a country’s public debt in relation
to its gross domestic product (GDP).
By comparing what a country owes
and what it produces, the debt-to-GDP
ratio indicates the country’s ability to
pay back its debt. The ratio is a
coverage ratio on a national level.

This measure gives an idea of the
ability of a country to make future
payments on its debt. If a country
were unable to pay its debt, it would
default, which could cause a panic in
the domestic and international markets.
The higher the debt-to-GDP ratio, the
less likely the country will pay its
debt back, and the higher its risk
of default.

The shocking result does not seem
to commensurate with Singapore’s
’spectacular’ growth of 14.7 percent
last year which was harped on
non-stop ad nauseam by PAP leaders
and the mainstream media.

As expected, the above findings are
not reported by the Singapore media
which continue to churn out tonnes
of ‘good news’ to give the public an
erroneous impression that the
Singapore economy is ‘booming.’

An updated UBS study published last
year August revealed that Singaporeans
now have lower domestic wages and
purchasing power after four years of PAP rule.

Another economic indicator in which
official data is lacking is Singapore’s
‘household debt to GDP ratio’ which
will give us a better idea about the
economic conditions on the ground.


.

Pamela
 

Cruxx

Alfrescian
Loyal
Japan has the 2nd highest public debt. Why do we not see them in panic like the Greeks (5th) and Irish (36th)? Sinkies really lacking in political and economic literacy. No wonder can let the PAPpies sodomise for so many years. :rolleyes:
 

Capano2121

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Loyal
Lies! Lies! I said! All these are lies!

Singapore do not owe any money to anyone!!! (this equates to no intention of payback)
 

Cestbon

Alfrescian (Inf)
Asset
Lies! Lies! I said! All these are lies!

Singapore do not owe any money to anyone!!! (this equates to no intention of payback)

CPF, Temasel bond, goverment GLC bond..................all are public debt.
That why PAP keep on increase the min sum and delay the payout for the CPF because gov unable to service all CPF payout.
 

jw5

Moderator
Moderator
Loyal
CPF, Temasel bond, goverment GLC bond..................all are public debt.
That why PAP keep on increase the min sum and delay the payout for the CPF because gov unable to service all CPF payout.
A loan from us to them for which the terms of repayment and interest rates are unilaterally determined by them.
 

Ramseth

Alfrescian (Inf)
Asset
Public debt has difference between internal and external. Most of Singapore's (and Japan's) public debt is internal, i.e. the government owe debt obligation to their own people. That's why SgD and JpY are so strong in forex, they're actually net creditors in the international debt market. It's unlike US where foreigners hold most of their debt and even their public join in the borrowing. That's why USD keeps sliding down.
 

jw5

Moderator
Moderator
Loyal
Public debt has difference between internal and external. Most of Singapore's (and Japan's) public debt is internal, i.e. the government owe debt obligation to their own people. That's why SgD and JpY are so strong in forex, they're actually net creditors in the international debt market. It's unlike US where foreigners hold most of their debt and even their public join in the borrowing. That's why USD keeps sliding down.
While SGD remains strong but SG people keep sliding down because the terms of repayment keep changing?
 
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