Uh...... Doesn't a high proportion of public debt to GDP
represent an overleveraged government? That kinda means that the
government has borrowed heavily, compared to the value of the
output from the country.
So then, it doesn't make sense that you're yay-ing about Singapore
being in the "top 10" list of indebted countries. :3
In fact, Singapore's debt is mostly local, and probably includes
CPF, which is compulsory. This generates an inflated view of the
Singapore government's debt.