Australian external debt Introduction Foreign debt is referred to also as external debt. Foreign debt is distinguished from other kinds of foreign investment capital inflow such as foreign ownership, because it carries with it the obligation to pay interest or to repay principal. There is no single factor that caused the dramatic deterioration in Australia's external position (McGillivray&Papadopoulos, 1995). The contributing factors are both internal and external. When domestic interest rates are high …
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…additional income, giving more development opportunities and helping to increase consumption. List of References McGillivray M.& Papadopoulos T. 1995, The Australian Economy: Principles, Policies and Performance, Thomson Publishing, Australia McTaggart D., Findlay C.& Parkin M.1999, Economics, 3rd edition, Addison Wesley Longman, Australia Sloman J.& Norris K. 1999, Economics, Prentice Hall, Australia Rider, M. 1994, External Debt and Liabilities of Industrial Countries, [online], Available: http://www.rba.gov.au/rdp/RDP9405.pdf [2004, April