There is a fundamental difference between nations that borrow in their own currency (such as the United States) and nations that borrow in some other currency (often the U.S.dollar).

Question

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When a nation borrows in its own currency, it can always print and repay the debt in its own currency. However, when a nation borrows in a foreign currency, it is subject to exchange rate fluctuations and may have difficulty repaying the debt if its currency weakens relative to the currency in which it borrowed.

There Is a Fundamental Difference Between Nations That Borrow in Their