It looks somewhat reasonable for me but not clear enough. I made to understand that the debt is real because somebody pay us, and the credit is unreal because it is only in the paper ( this is what I understand from you)! The 2nd part is not clear, I think the chain is likely to broke somewhere!!
I'm new to this forum, seen a chart in wiki and I doubt...
External debt
where did all the money come form if most of the country have so much debt?
Any taughts to share?
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