Overborrowing or overlending? Lenders encourage indebtedness because it is profitable. Developing country governments are sometimes even pressured to overborrow … Even without corruption, it is easy to be influenced by Western businessmen and financiers … Countries that aren’t sure that borrowing is worth the rist are told how important it is to establis a credit rating: borrow even if you really don’t need the money.

Overborrowing or overlending? Lenders encourage indebtedness because it is profitable. Developing country governments are sometimes even pressured to overborrow … Even without corruption, it is easy to be influenced by Western businessmen and financiers … Countries that aren’t sure that borrowing is worth the rist are told how important it is to establis a credit rating: borrow even if you really don’t need the money.

– Joseph E. Stiglitz –

Making Globalization Work

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