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Delicious77 [7]
4 years ago
8

Suppose a less developed country is having difficulty making payments on its foreign debts. What option does this nation have?

History
1 answer:
vichka [17]4 years ago
5 0

Answer:

Acquiring more credits in order to pay the existing debt is not recommended. The nation can review refinancing options with the creditors so they can readjust the interests rate and establish new deadlines so that payment can be sustainable for the country. Keep in mind that less developed countries usually have internal conditions such as wars, famines and natural disasters which make even more difficult  to pay the foreign debt.

Explanation:

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