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How Do Countries Recover from Debt Crisis?
Recovery from a debt crisis is tough—but not impossible. It often involves:
1. Debt Restructuring:
Renegotiating loan terms with creditors. This may include:
Lower interest rates


Extended payment periods


Sometimes even partial forgiveness (a “haircut”)


2. IMF or International Aid:
Countries often turn to the International Monetary Fund (IMF) for emergency loans and technical help.
But IMF help usually comes with tough conditions—like austerity (cutting government spending) and economic reforms.
3. Boosting Exports and Growth:
To escape the crisis, countries must grow their economies and earn foreign currency through exports.
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