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Debt, Something owed. Anyone having borrowed money or goods from another owes a debt and is under obligation to return the goods or repay the money, usually with interest. For governments, the need to borrow in order to finance a deficit budget has led to the development of various forms of national debt. See also bankruptcy; debtor and creditor; usury.

The Aswan High Dam, Aswān, Egypt.
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economic development: Developing countries and debt
After World War II it was thought that developing countries would require foreign aid in their early stages of development. This aid would…
This article was most recently revised and updated by Jeannette L. Nolen, Assistant Editor.
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