Government Debt by Country
Latest released Government Debt value for every supported currency, with the previous reading, the change between releases, reference date, frequency, unit, and source.
/api/v1/announcements/{currency}/government_debt. Non-USD endpoints require an API key query parameter.| Country / Currency | Latest | Previous | Change | Reference | Frequency | Unit | Source |
|---|---|---|---|---|---|---|---|
|
United States
USD · US Dollar
|
38,514,009
31 Dec 2025
|
37,637,552.60
30 Sep 2025
|
▲ +876,456.404 | 31 Dec 2025 | Quarterly | USD bn | FRED (BEA/BLS/Fed) |
What is Government Debt?
Government debt measures the total stock of liabilities owed by the central government, usually published quarterly as a headline level or as a debt-to-GDP ratio.
Why it matters for FX
Debt levels themselves move slowly, but the trajectory and the fiscal-funding path matter for currency risk premia, especially in stressed environments. The mini-budget GBP crash in 2022 and periodic eurozone-periphery spread blowouts are reminders that fiscal credibility is an FX driver, not just a bond-market one.
How to read this page
Read as a share of GDP, not in nominal currency. Watch the fiscal-deficit trajectory and the average maturity of outstanding debt to gauge refinancing risk.
What to watch for
- Debt-to-GDP trajectory rather than level
- Fiscal-deficit run rate and primary balance
- Average debt maturity and refinancing wall
- Foreign vs domestic ownership share
- Sovereign-rating actions