Usually means: Borrowed money from foreign lenders.
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We found 8 dictionaries that define the word External debt:

General (3 matching dictionaries)
  1. External Debt, External debt: Wikipedia, the Free Encyclopedia
  2. external debt, External debt: Longman Dictionary of Contemporary English

Business (5 matching dictionaries)
  1. EXTERNAL DEBT: Accounting Glossary
  2. External debt: Deardorff's Glossary of International Economics
  3. External Debt: Investopedia
  4. Accounting, Business Studies and Economics Dictionary (No longer online)
  5. BusinessDictionary.com (No longer online)

Definitions from Wikipedia (External debt)

noun:  A country's gross external debt (or foreign debt) is the liabilities that are owed to nonresidents by residents.

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