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For "external debt", read loans from China.
The United Nations recommends that developing nations spend not more than 10-13% of revenues for external debt repayments.
This is broadly based on the relative capacity of each country to pay, as measured by its gross national income (GNI), with adjustments for external debt and low per capita income.
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report notes, and the United States faces an "unprecedented level of external debt for a large industrial country".
Debt-servicing, or interest and principal payments, in foreign currency on mountains of external debt make it very difficult for developing countries to invest sufficiently in social development that is one essential basis for economic growth.
In countries with high levels of external debt, the need to conserve funds for repaying external creditors, perhaps by initiating or increasing user fees for health and education, may create a further constraint.
We currently have a serious domestic funding problem and huge build up of external debt, which I think are the major headwinds for invesment recovery.
Ukraine does have plenty of external debt.
Byrne also said the inflows of foreign investment have partly offset Cambodia's account deficit and built up its foreign exchange reserves, thus providing a buffer for its external debt.
But that could be rapidly transformed into economic opportunity for both countries via external debt for equity swaps.
Likewise, despite skepticism from multilateral agencies, it was possible for us to exchange external debt for local currency investments into health research, netting an extra 70% over the value of grants from the Rockefeller and MacArthur Foundations.
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