The short story here is that developing counties are no longer able to issue debt in their own currency, but have to issue in dollars. When a developing country issues debt in dollars, they can no longer print their own currency to pay off the debt, but they need to redeem it with dollars.
Issuing debt in foreign currency is deemed an ‘original sin’. In the event that your debt is denominated in a currency other than your own (or gold) and your currency begins to depreciate, the debt service payments can become unpayable.
Many of the developing countries that used to be able to issue debt in their own currency are no longer able to do so and therefore are subject to an outside or foreign currency.
As far as the Gospel is concerned, Christians believe that we do not have the right currency to make the payment and relativism does not truely atone. Jesus’ payment on the other hand is sufficient to redeem.
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