ICSE BoardEnglish MediumSTD 10EconomicsPublic Debt2 Marks
Question
State the difference between redeemable debt and irredeemable debt.
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Answer
→ Redeemable debt is that loan which is repayable by the government after a fixed period of time. When the debt matures the government pays back the amount to the lender. → Irredeemable loan is that loan whose principal amount is not refunded by the government. However, interest is paid regularly.
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