How does the burden of high debt reduce the ability of governments to provide funding for social services and development projects?
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According to chapter 4, The Human Costs, how does debt servicing (repaying the interest and principal on loans/debt) to international financial institutions such as the International Monetary Fund (IMF) the World Bank (WB) and foreign governments (like the United States) constrain/impede development in poor countries?
Specifically, how does the burden of high debt reduce the ability of governments to provide funding for social services and development projects? Include in-text citations to the reading.
