SG is 10th most indebted (Debt to GDP). How come so high?

[Lemonpeach]

https://worldpopulationreview.com/countries/countries-by-national-debt

 

[Adenovirus]

See pee eff.

 

[Orobas]

i tot sg debt is mostly domestic

 

[Apparatus]

Definitely not me because I don't borrow money

 

[CPTMiller]

Definitely not me because I don't borrow money

富二代

 

[CPTMiller]

https://worldpopulationreview.com/countries/countries-by-national-debt

billions sitting on reserve and many more with State companies. Singapore is rich

 

[nyvrem]

Internal debt is best debt

forever don’t need pay back

 

[treeskull]

U might be surprised how many ppl owe credit card debts

 

[OKCATYEON]

Sg borrow to lend. Overall Singapore is a creditor. Most debts are internal debts (cpf)

 

[kamhwee72]

Internal debt is best debt

forever don’t need pay back

This

 

[hatredhollow]

we have triple AAA credit rating can liao

you see msia is BBB looool

 

[buttbERry]

what kind of debt?

 

[sanzhu]

Drugs dun work the smaller the amount

 

[WeiHan]

That one is not actual debt. Money parked in Singapore is counted as debt only. Is not the money we borrowed.

 

[shagrat]

Internal debt lor, just like Japan

 

[WeiHan]

Banking accounting is peculiar. The money you deposit in bank is accounted as the bank debt. So as I explained above, all short term international money parked in our financial system is accounted as our debt. Not actual money we borrowed.

 

[orhneeorh]

GIC, Temasek borrow our CPF at 2.5% to invest / speculate

 

[WeiHan]

Read reply from MOF

No, Singapore actually has zero net debt.

As one of the world’s leading financial centres, our external debts are mainly deposits kept in Singapore banks by overseas banks and depositors.

https://www.mof.gov.sg/docs/default...-the-singapore-government-heavily-in-debt.pdf