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All countries are in debt! Usually this is how we justify the need to borrow.
Okay, yes. It could well be said that all people have sex. Only you understand that the process itself takes place under different conditions.
Some do it in marriage. Others have no relationships. Others change. Someone likes same-sex sex.
The process is the same, but the conditions are different. And what will the excuse for cheating with words sound like? So everyone does this?)
So it is with debts. Debt is also different: external or internal. There is also a difference in the currency you borrow. What is the currency of the debtor’s state: reserve or not.
There is also an indicator such as the international investment position. It shows the external assets (investments and loans) of the state in other countries, as well as what assets other countries own within the state: liabilities.
If the assets exceed the liabilities, then the state is considered the creditor by the state. Examples of such countries: Singapore, Norway, Switzerland, the Netherlands, Germany, Japan, China, South Korea, Israel.
If the liabilities exceed the assets, the state is considered a debtor. This list also includes several developed countries like the United States, Australia, France, Spain. However, even here it is necessary to pay attention to the peculiarities of this position, since everything is not easy there either. And most debtor states are poor countries.
