As Roger Childs mentioned in his article, NZ at present fortunately has a low debt to GDP ratio, thanks to good economic management by both the last National Government and the present Finance Minister Grant Roberston, who has resisted a big spending splurge.

A ranking of all countries’ debt to GDP ratios is on this webpage.  Surprisingly, perhaps, the list is topped by Japan at 238%; the second, Greece, is no surprise, however.