"internal debt" is a correct and usable phrase in written English and can be used in various contexts.
For example, "The company struggled with high levels of internal debt."
It culminated in Russia defaulting on its internal debt in August 1998, which shook the international financial markets.
Internal debt has piled up.
Egypt's internal debt bigger than its GDP.
Only lower interest rates can lift the centre's huge burden of internal debt.
Since much of Brazil's internal debt is linked to the exchange rate, domestic obligations have soared accordingly.
The government in Tehran has already earmarked all of it for digging itself out of the mountain of internal debt to the banks and construction sector build up by former president Mahmoud Ahmadinejad.
The U.S. national debt is almost entirely internal, while the debts of many developing countries and of local governments in the United States are largely external.
Firms can use internal finance, debt capital, or issue new equity to fund their projects.
This cycle of internal public debt accumulation (now hovering at close to 200% of GDP) is anchored to a vicious demographic curve that leaves the Japanese economy in the long-term position of a man treading water with a bowling ball in his hands.
Because they are heavily indebted, and so internal devaluation makes debt burdens harder to service, raising the prospect of defaults or crises.
Second, the Bank of Greece owes the ECB around €130 billion in "Target 2" debt, internal obligations within the European central banking system, which would turn into real debt in the event of an exit.
