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Public Debt — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsPublic Debt2 Marks
Question
Distinguish between Internal and External Debt.
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Answer

(i) Public loans raised within the country are called internal debt whereas loans from other countries are referred to as external debt.
(ii) An internal debt may be voluntary or compulsory whereas external debt is generally voluntary.

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