The international debt crisis of early 1982 was precipitated when Mexico could not pay its international debts.
International debt can help countries with their foreign exchange problems and provide funding to those that lack domestic capital, which can help economic development. From the standpoint of each individual nation, a small amount of external debt is acceptable, but when a nation gets seriously "debt-laden," issues start to surface.
In recent years, the International debt has faced significant challenges as a result of the failure of many emerging nations to escape the "poverty trap," which results from explosive population expansion that is not matched by economic growth. These nations frequently do not generate enough foreign cash to even cover annual interest payments, let alone pay off International debt.
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