由于短期国际债务水平高，本币贬值会增加偿债成本。每个人都需要更多的本国

Due to the high level of short-term international debt, the depreciation of the local currency will increase the cost of debt service. Everyone needs more national currency to get the same amount of US dollar debt, and selling the national currency to get these dollars or other "hard currency" will further weaken the national currency. Compared with short-term debt, the central bank's foreign exchange reserves are not high. As more investors convert their currencies and domestic assets into US dollars, these reserves will further decrease. Foreign lenders refused to renew short-term loans, and this situation continues.

Because of the high level of short-term international debt, the depreciation of the local currency will increase the cost of servicing debt. Everyone needs more of their own currency to get the same amount of dollar debt, and selling their own currency to obtain these dollars or other "hard currency" will further weaken their own currency. The central bank's foreign exchange reserves are not high compared with short-term debt. These reserves will be further reduced as more investors convert their currencies and domestic assets into dollars. Foreign borrowers refuse to renew short-term loans, and that continues.

Due to the high level of short-term international debt, the depreciation of local currency will increase the cost of debt service. Everyone needs more of their own currency to get the same amount of US dollar debt, and selling their own currency to get those dollars or other "hard currency" will further weaken their own currency. Compared with short-term debt, the central bank's foreign exchange reserves are not high. As more investors convert their currencies and domestic assets into dollars, these reserves will be further reduced. Foreign borrowers refuse to renew short-term loans, and that continues.