If the country does not pay back the money it owes, how serious will the consequences be?

If the country does not owe money, there will be a very serious problem of integrity, and the consequences will be very serious. In fact, many countries are in debt, and the debt ratio of the United States, the most developed country in the world, is still very high, not just because of the United States? Economic development needs more funds, and the debt of the United States is even higher than Mongolia's gdp.

There is no example of a country not paying its debts. The most typical example is Russia. After the disintegration of the Soviet Union, there was really no money. Therefore, in the year of 1998 announcement, the debt of1300 million was deferred, not unpaid, but postponed. After this incident came out, Russia's credibility was immediately questioned. All foreign capital in Russia is evacuated from Russia because of avoiding risks. For a time, Russia was almost hollowed out, which reduced the GDP of the whole country by half, and suffered heavy losses under the shock therapy in Russia at that time. This is still the result of delay.

If Russia directly says it won't pay back, the economy may collapse. However, in the 1970s from 65438 to 2009, Argentina's international reputation was destroyed because it borrowed a lot of money, but it was unable to repay its debts. Not only did foreign capital flow out, but the whole world stopped lending money to Argentina, which led to its financial bankruptcy. Moreover, the world also prohibits Argentina's currency outflow, inflation, increased unemployment, national unrest and people's poverty. The whole country has been in turmoil for decades

Historically, there are still many problems caused by national debt, and there are still more problems caused by debt. In fact, for a country, the debt ratio also reflects the overall situation of the country. Is Argentina unable to repay because of its high debt? The reason led to the bankruptcy of the country.