Name 1 example of a currency crisis where the debtor nation had debt denominated in their own currency.
I'll save you the time. There are no examples.
Every currency crisis has debt denominated in a foreign currency.
- Germany in the 1930 (WW1 reparations were gold marks)
- Argetina (foreign borrow and currency peg to USD).
- Thailand.
- Turkey (now, borrowed in Euro).
I'll save you the time. There are no examples.
Every currency crisis has debt denominated in a foreign currency. - Germany in the 1930 (WW1 reparations were gold marks) - Argetina (foreign borrow and currency peg to USD). - Thailand. - Turkey (now, borrowed in Euro).
https://en.wikipedia.org/wiki/War_reparations "Germany agreed to pay reparations of 132 billion gold marks"
https://www.federalreservehistory.org/essays/asian-financial... "Heavy foreign borrowing, "
https://economics.rabobank.com/publications/2013/august/the-... "Argentina’s hard currency peg to the US Dollar, pro-cyclical fiscal policies and extensive foreign borrowing"
If you're going claim a coming currency crisis, test that assumption against the historical record at your earliest convenience.