noun
sovereign debt; public debt
Refers to debt issued or guaranteed by a national government. Used in economic and policy contexts.
公的債務の増加が財政の大きな課題となっている。
The increase in public debt has become a major fiscal challenge.
国債 refers specifically to government bonds, a common instrument of public debt, while 公的債務 is the broader concept of sovereign debt.
Compound of 公的 (public) and 債務 (debt).