What Happens If A Country Doesn’t Repay Its Debt To Another?

Individuals borrow money all the time, and we all know how it’s supposed to work. You get the cash you need, then you repay that money later, with interest, by a set date. But what happens when a country borrows…

What Happens If A Country Doesn't Repay Its Debt To Another?

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Individuals borrow money all the time, and we all know how it’s supposed to work. You get the cash you need, then you repay that money later, with interest, by a set date. But what happens when a country borrows money, then doesn’t pay it back? A country defaulting on its debt is more common than you might think, and it has a ripple effect. It’s one thing for a private citizen to miss a payment, but it’s quite another for an international entity to default on repaying a loan as agreed and promised. This is what happens if a country doesn’t repay its debt to another country.

#Country #Debt #Money

It’s payback time | 0:00
Russia’s default | 1:17
Currency devaluation | 2:41
Real-life impacts | 3:41
Too unstable to trust | 4:41
Finding solutions | 5:31

Read Full Article: https://www.grunge.com/828840/what-happens-if-a-country-doesnt-repay-its-debt-to-other-countries/

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