What is internal and external debt

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Lexicon on public budget and financial management

National debt, internal

Internal government debt includes all debts (bonds, credits, loans) of a country that were borrowed in the currency of the respective country.

In the case of Germany, for example, all federal, state and municipal debts denominated in euros are internal government debts.

The term internal government debt is also used for debt to domestic creditors. Internal government debt is generally seen as less of a problem than external government debt (foreign debt), as society is both a creditor and a debtor from a macroeconomic perspective, i.e. government debt and private assets cancel each other out.

Contrast: external government debt.

See also:
- Public debt in the European Union (EU)
- Debt clocks for the national debts of the EU member states
- Debt clock for the national debt of the USA
- National debt in Germany (federal, state, local)
- Essays on "Budget Consolidation & Debt"
- Lectures / presentations on the topic of "Budget Consolidation & Debt"
- Quotes for household speeches on the subject of "Debt | National Debt"
- Blog entries on the topic of "Debt-Free Municipalities"
- Blog entries on the topic of "Sustainability Statutes & Communal Debt Brakes"
- Blog entries on the topic of "Debt & Budget Consolidation"