paragraph_text: The Central African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XAF) is the currency of six independent states in central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. These six countries have a combined population of 48.0 million people (as of 2014), and a combined GDP of US $88.2 billion (as of 2012).

paragraph_text: On November 7, 2016, debt held by the public was $14.3 trillion or about 76% of the previous 12 months of GDP. Intragovernmental holdings stood at $5.4 trillion, giving a combined total gross national debt of $19.8 trillion or about 106% of the previous 12 months of GDP. As of December 2017, $6.3 trillion or approximately 45% of the debt held by the public was owned by foreign investors, the largest of which were Japan (about $1.06 trillion) and China (about $1.18 trillion).

paragraph_text: Abundant petroleum and foreign private investment have helped make Gabon one of the most prosperous countries in Sub-Saharan Africa, with the 7th highest HDI and the fourth highest GDP per capita (PPP) (after Mauritius, Equatorial Guinea and Seychelles) in the region. GDP grew by more than 6% per year from 2010 to 2012. However, because of inequality in income distribution, a significant proportion of the population remains poor.

paragraph_text: Growth in a Time of Debt, also known by its authors' names as Reinhart–Rogoff, is an economics paper by American economists Carmen Reinhart and Kenneth Rogoff published in a non peer-reviewed issue of the "American Economic Review" in 2010. Politicians, commentators, and activists widely cited the paper in political debates over the effectiveness of austerity in fiscal policy for debt-burdened economies. The paper argues that when "gross external debt reaches 60 percent of GDP", a country's annual growth declined by two percent, and "for levels of external debt in excess of 90 percent" GDP growth was "roughly cut in half." Appearing in the aftermath of the financial crisis of 2007–2008, the evidence for the 90%-debt threshold hypothesis provided support for pro-austerity policies.

paragraph_text: As a sovereign country (2016), Texas would be the 10th largest economy in the world by GDP (ahead of South Korea and Canada). Texas's household income was $48,259 in 2010 ranking 25th in the nation. The state debt in 2012 was calculated to be $121.7 billion, or $7,400 per taxpayer. Texas has the second largest population in the country after California.

paragraph_text: The United States has a capitalist mixed economy which is fueled by abundant natural resources and high productivity. According to the International Monetary Fund, the U.S. GDP of $16.8 trillion constitutes 24% of the gross world product at market exchange rates and over 19% of the gross world product at purchasing power parity (PPP).The nominal GDP of the U.S. is estimated to be $17.528 trillion as of 2014. From 1983 to 2008, U.S. real compounded annual GDP growth was 3.3%, compared to a 2.3% weighted average for the rest of the G7. The country ranks ninth in the world in nominal GDP per capita according to the United Nations (first in the Americas) and sixth in GDP per capita at PPP. The U.S. dollar is the world's primary reserve currency.The United States is the largest importer of goods and second-largest exporter, though exports per capita are relatively low. In 2010, the total U.S. trade deficit was $635 billion. Canada, China, Mexico, Japan, and Germany are its top trading partners. In 2010, oil was the largest import commodity, while transportation equipment was the country's largest export. Japan is the largest foreign holder of U.S. public debt. The largest holder of the U.S. debt are American entities, including federal government accounts and the Federal Reserve, who hold the majority of the debt.

paragraph_text: On November 7, 2016, debt held by the public was $14.3 trillion or about 76% of the previous 12 months of GDP. Intragovernmental holdings stood at $5.4 trillion, giving a combined total gross national debt of $19.8 trillion or about 106% of the previous 12 months of GDP; $6.2 trillion or approximately 45% of the debt held by the public was owned by foreign investors, the largest of which were Japan and China at about $1.09 trillion for Japan and $1.06 trillion for China as of December 2016.

paragraph_text: Israel has one of the highest ratios of defense spending to GDP of all developed countries, only topped by Oman and Saudi Arabia. In 1984, for example, the country spent 24% of its GDP on defense. By 2006, that figure had dropped to 7.3%. Israel is one of the world's largest arms exporters, and was ranked fourth in the world for weapons exports in 2007. The majority of Israel's arms exports are unreported for security reasons. Since 1967, the United States has been a particularly notable foreign contributor of military aid to Israel: the US is expected to provide the country with $3.15 billion per year from 2013 to 2018. Israel is consistently rated low in the Global Peace Index, ranking 148th out of 162 nations for peacefulness in 2015.

paragraph_text: As of 2015[update], Nigeria is the world's 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively. It overtook South Africa to become Africa's largest economy in 2014. Also, the debt-to-GDP ratio is only 11 percent, which is 8 percent below the 2012 ratio. Nigeria is considered to be an emerging market by the World Bank; It has been identified as a regional power on the African continent, a middle power in international affairs, and has also been identified as an emerging global power. Nigeria is a member of the MINT group of countries, which are widely seen as the globe's next "BRIC-like" economies. It is also listed among the "Next Eleven" economies set to become among the biggest in the world. Nigeria is a founding member of the Commonwealth of Nations, the African Union, OPEC, and the United Nations amongst other international organisations.

paragraph_text: Swaziland is a developing country with a small economy. Its GDP per capita of $9,714 means it is classified as a country with a lower-middle income. As a member of the Southern African Customs Union (SACU) and Common Market for Eastern and Southern Africa (COMESA), its main local trading partner is South Africa. Swaziland's currency, the lilangeni, is pegged to the South African rand. Swaziland's major overseas trading partners are the United States and the European Union. The majority of the country's employment is provided by its agricultural and manufacturing sectors. Swaziland is a member of the Southern African Development Community (SADC), the African Union, the Commonwealth of Nations and the United Nations.

paragraph_text: The Canadian government debt, commonly called the ``public debt ''or the`` national debt'', is the amount of money owed by the Government of Canada to holders of Canadian Treasury security. In 2013, this number stood at CAD $1.2 trillion across federal and provincial governments. With the total GDP somewhere around CAD $1.8 trillion, Canada's overall debt / GDP ratio is around 66%. ``Gross debt ''is the national debt plus intragovernmental debt obligations or debt held by trust funds. Types of securities sold by the government include treasury bills, notes, bonds, Real Return Bonds, Canada Savings Bonds, and provincial government securities.

paragraph_text: For FY 2010, Department of Defense spending amounts to 4.7% of GDP. Because the U.S. GDP has risen over time, the military budget can rise in absolute terms while shrinking as a percentage of the GDP. For example, the Department of Defense budget is slated to be $664 billion in 2010 (including the cost of operations in Iraq and Afghanistan previously funded through supplementary budget legislation), higher than at any other point in American history, but still 1.1 -- 1.4% lower as a percentage of GDP than the amount spent on military during the peak of Cold - War military spending in the late 1980s. Admiral Mike Mullen, former Chairman of the Joint Chiefs of Staff, has called four percent an ``absolute floor ''. This calculation does not take into account some other military - related non-DOD spending, such as Veterans Affairs, Homeland Security, and interest paid on debt incurred in past wars, which has increased even as a percentage of the national GDP.

paragraph_text: The economy of India is an underdeveloped mixed economy. It is the world's seventh - largest economy by nominal GDP and the third - largest by purchasing power parity (PPP). The country ranks 141st in per capita GDP (nominal) with $1723 and 123rd in per capita GDP (PPP) with $6,616 as of 2016. After 1991 economic liberalisation, India achieved 6 - 7% average GDP growth annually. In FY 2015 India's economy became the world's fastest growing major economy surpassing China. The long - term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

paragraph_text: Horn of Africa Countries and territories Djibouti Eritrea Ethiopia Somalia Major regional organizations Arab League, Common Market for Eastern and Southern Africa, Community of Sahel - Saharan States, Intergovernmental Authority on Development Population 122,618,170 (2016 est.) Area 1,882,757 km Languages Afar Arabic Amharic French Oromo Somali Tigrinya Religion Islam, Christianity, traditional faiths Time zones UTC + 03: 00 Currency Djiboutian franc Eritrean nakfa Ethiopian birr Somali shilling Capitals Addis Ababa (Ethiopia) Asmara (Eritrea) Djibouti (Djibouti) Mogadishu (Somalia) Total GDP (PPP) $247.751 billion (2016) Total GDP (nominal) $102,057 billion (2016)

paragraph_text: Nigeria is often referred to as the "Giant of Africa", owing to its large population and economy. With approximately 182 million inhabitants, Nigeria is the most populous country in Africa and the seventh most populous country in the world. Nigeria has one of the largest populations of youth in the world. The country is viewed as a multinational state, as it is inhabited by over 500 ethnic groups, of which the three largest are the Hausa, Igbo and Yoruba; these ethnic groups speak over 500 different languages, and are identified with wide variety of cultures. The official language is English. Nigeria is divided roughly in half between Christians, who live mostly in the southern part of the country, and Muslims in the northern part. A minority of the population practise religions indigenous to Nigeria, such as those native to Igbo and Yoruba peoples.

paragraph_text: After fourteen consecutive years of economic growth, Greece went into recession in 2008. By the end of 2009, the Greek economy faced the highest budget deficit and government debt-to-GDP ratios in the EU. After several upward revisions, the 2009 budget deficit is now estimated at 15.7% of GDP. This, combined with rapidly rising debt levels (127.9% of GDP in 2009) led to a precipitous increase in borrowing costs, effectively shutting Greece out of the global financial markets and resulting in a severe economic crisis.

paragraph_text: As of Q1 (the first quarter of) 2015, UK government debt amounted to £1.56 trillion, or 81.58% of total GDP, at which time the annual cost of servicing (paying the interest) the public debt amounted to around £43 billion (which is roughly 3% of GDP or 8% of UK government tax income). Approximately a third of this debt is owned by the British government due to the Bank of England's quantitative easing programme, so approximately 1 / 3 of the cost of servicing the debt is paid by the government to itself, reducing the annual servicing cost to approximately £30 billion (approx 2% of GDP, approx 5% of UK government tax income).

paragraph_text: As of July 31, 2018, debt held by the public was $15.6 trillion and intragovernmental holdings were $5.7 trillion, for a total or ``National Debt ''of $21.3 trillion. Debt held by the public was approximately 77% of GDP in 2017, ranked 43rd highest out of 207 countries. The Congressional Budget Office forecast in April 2018 that the ratio will rise to nearly 100% by 2028, perhaps higher if current policies are extended beyond their scheduled expiration date. As of December 2017, $6.3 trillion or approximately 45% of the debt held by the public was owned by foreign investors, the largest being China (about $1.18 trillion) then Japan (about $1.06 trillion).

paragraph_text: As of 18 June 2012, the ECB in total had spent €212.1bn (equal to 2.2% of the Eurozone GDP) for bond purchases covering outright debt, as part of its Securities Markets Programme (SMP) running since May 2010. On 6 September 2012, the ECB announced a new plan for buying bonds from eurozone countries. The duration of the previous SMP was temporary, while the Outright Monetary Transactions (OMT) programme has no ex-ante time or size limit. On 4 September 2014, the bank went further by announcing it would buy bonds and other debt instruments primarily from banks in a bid to boost the availability of credit for businesses.

paragraph_text: According to Der Spiegel, credits given to European governments were disguised as "swaps" and consequently did not get registered as debt because Eurostat at the time ignored statistics involving financial derivatives. A German derivatives dealer had commented to Der Spiegel that "The Maastricht rules can be circumvented quite legally through swaps," and "In previous years, Italy used a similar trick to mask its true debt with the help of a different US bank." These conditions had enabled Greek as well as many other European governments to spend beyond their means, while meeting the deficit targets of the European Union and the monetary union guidelines. In May 2010, the Greek government deficit was again revised and estimated to be 13.6% which was the second highest in the world relative to GDP with Iceland in first place at 15.7% and Great Britain third with 12.6%. Public debt was forecast, according to some estimates, to hit 120% of GDP during 2010.

Question: What is the debt-to-GDP ratio in the country called the Giant of Africa?
Answer: 11 percent