Japan's debt stands at 1,328,000,000,000,000 yen or around $12.2 trillion as of end-2019.
, Japan manages to keep government bond yields ultra low and investor confidence high that it can avoid default.Whichever way you look at it, Japan's debt is unfathomably large. According to the Bank of Japan , at the end of 2019, it stood at 1,328,000,000,000,000 yen.
With stimulus packages and a rapidly aging population that pushes up healthcare and social security costs, Japan's debt first breached the 100%-of-GDP mark at the end of the 1990s.On Wednesday, June 10, Japan's parliament agreed anti-coronavirus measures worth 117 trillion yen – which is likely to push the GDP ratio well above 250%.
This means that in effect, the government is being financed by the central bank at an ultra-low interest rate, making it more sustainable. "With limited investment and lending opportunities domestically, banks, insurance companies, and pension funds still need the JGB to place their vast amount of excess savings," Nagai told Agence France-Presse.
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