Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)


The Effect of Debts on Economic Development

Author(s): Badreldin Mohamed Ahmed Abdulrahman, Abderhim Elshazali Yahia, Hamza Abdallah Abdalrhman, Tarig Osman Abdallah Helal

This study aims to discuss the effect of debts on economic development. It is a descriptive review article that emphasizes the impact of debts or economical help on international affairs. The study depended on secondary data, namely debt report 2020 of World Bank Group. The obtained results showed that; the economical help seems to be a necessity of the time while due to its adverse effects in case of excessive use, there must be the strategies and pre-planning for utilizing and returning the debt. It concluded that; there are both sides negative and positive of the debt on every level, while in order to keep it only on the optimizing state, it is important to understand the consequences and make the moves according to the need.

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