they are victims
There is no 'normal' interest rate on sovereign debt. The initial rates are set at the sovereign debt auctions. Investors offer to buy a debt issue or a proportion of the issue at a certain interest rate. The offer is greatly influenced by the investors' own perception of the debt issuer (country) ability to repay its debt + demand for the issue + country sovereign debt rating.
Austerity measures were introduced primarily as a response to economic crises, particularly following the 2008 financial crisis and subsequent sovereign debt issues in several countries. Governments implemented austerity to reduce budget deficits by cutting public spending, increasing taxes, and restructuring debt. The aim was to restore fiscal stability, regain investor confidence, and promote long-term economic growth. However, austerity often faced criticism for its negative impact on social services and economic recovery.
Governments want to participate in debt-for-nature swap because they get debt relief & environmentalists get rain forest preservation.
nothing
Consumer debt is the debt (money owed) by people as opposed to the debt of institutions, governments or businesses
Debt that had been created by Louis XIV.
Bond
Large public debt can arise from various factors, including excessive government spending, economic downturns, and the need to finance public services and infrastructure. During crises, such as recessions or pandemics, governments often increase borrowing to stimulate the economy or provide support to citizens. Additionally, tax cuts without corresponding spending cuts can exacerbate debt levels. Over time, accumulated deficits contribute to a larger public debt burden.
The debt ceiling
B. Bond.
Rohan Pitchford has written: 'Holdouts in sovereign debt restructuring'
Daniel A. Dias has written: 'The stock of external sovereign debt'