A comparative study on the debt problems of developed and developing countries

Abstract

Current Situation and Characteristics of Debt in Developed and Developing Countries Debt economy is a notable feature of post-war world economic development and changes. At present, almost all countries in the world have been linked with debt to varying degrees, and many of them have evolved into veritable debtor countries (here mainly refers to net debtor countries), which has seriously disturbed the economic growth and social stability of these countries. The "hardest hit areas" of international debt should be developing countries, especially Latin American countries. In fact, as early as the 1970s, when developing countries borrowed a lot to stimulate domestic economic development, the international debt crisis had already begun to emerge. At that time, the total foreign debt of developing countries had reached more than 100 billion US dollars, and on average two to three countries were unable to repay their debts on time every year. But before the 1980s, debt