Turkey Ranks The 7th In The League Of The Most Indebted Countries

The World Bank announced its 2004 Global Development Report, showing that the total foreign debt of 136 developing countries became 2 trillion 433.3 billion dollars last year by an increase of 4%. 2 trillion 69 billion dollars of this debt are for medium-long term and 364.3 billion dollars for short term.With 2003 numbers, Turkey is the 7th country with a debt of  131.6 billion dollars among developing countries whose foreign debts are the highest. Turkey had ranked the 9th in the list, in 1997. According to the report, Turkey is the 4th highest country with a 55.95% increase among developing countries whose debts increased  most rapidly within last 5 years, while Lebanon ranked the first, Chili ranked the second and Poland ranked thethird.The total foreign debts of developing countries reached to 2.4 trillion dollars. Brazil continues to be the most indebted country with 227.9 billion dollars. China ranked the second and Poland ranked the 9th. Â