Someone once wrote that "sovereign debt is the only kind of debt that is not paid by the taker, but by its sons". Which I think highlight the importance of Return on Investment, as a decisive tool in State budgeting. Sovereign debt should be taken mainly as a financing tool for long term projects, that have a positive ROI that sets them as priority for development and over pays for the financing it gets (and opportunity costs of the investment). That should be the motto and the rule of action we owe our kids.
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