Give only brief summary of that.Huge debt in the emerging economy developed countries is one of the core factors that hinder their growth and economic potential.imagine if Papua new Guinea practice prohibition on debt/loan from international bodies/union or economic institution and managed it's natural resources describe how PNG would be compared to the current economic stage we are at the means.

Answer 1

If Papua New Guinea (PNG) practiced a prohibition on debt from international bodies and effectively managed its natural resources, it could potentially experience greater economic stability and growth. By avoiding debt, PNG would not face the burden of repayments and interest that often constrain budgets. With prudent resource management, the country could leverage its rich natural assets to generate sustainable revenue, improving infrastructure, education, and healthcare. This could lead to a more self-sufficient economy, reduced reliance on external aid, and enhanced overall welfare, contrasting sharply with its current economic challenges stemming from high debt and underutilization of resources.