This chart highlights the ten largest sovereign debt defaults from 1983 to 2022, with Greece leading the list at a staggering $264.2 billion default in 2012. Argentina appears multiple times, reflecting its recurring financial struggles, with significant defaults in 2001, 2014, and 2019. Russia's 1998 default of $72.7 billion and Venezuela's 2017 default of $31.1 billion underscore the economic challenges faced by these nations. The chart also notes recent defaults by Lebanon and Ukraine, indicating ongoing financial instability in these regions. The data reveals a pattern of repeated defaults by certain countries, suggesting systemic economic issues. Additionally, the chart mentions six sovereign debt defaults in 2023, including Sri Lanka and Argentina, hinting at a continuing trend of financial distress in various parts of the world. This visualization provides a stark reminder of the volatility and risks associated with sovereign debt, particularly in economically vulnerable countries.
