A considerable advantage that richer countries have over poorer ones is exemplified by the fact that

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Richer countries have the advantage of being able to denominate their foreign debts in their own currencies, which gives them more control over their debt and greater flexibility in managing their economies. This is because their currencies are generally considered more stable and reliable than those of poorer countries, meaning that lenders are more willing to lend to them in their own currencies. In contrast, poorer countries often have to borrow in foreign currencies because their own currencies are too unstable or are not widely accepted in international financial markets, which exposes them to greater risk of currency fluctuations and makes their debt harder to manage.

A Considerable Advantage That Richer Countries Have Over Poorer Ones