With his help, Iran became independent of foreign loans to maintain its economy.
However, there are no foreign loans expected for this purpose in 2009-10.
The good news is that in the past one great empire did rely on foreign loans.
There is no huge American construction program that requires foreign loans.
But while this temporarily raised living standards, Peru was cut off from new foreign loans.
More pressing at the moment was the question of foreign loans.
By 1995, Japan accounted for more than half of all foreign loans to the region.
In effect, it's like Washington has raised a massive foreign loan.
Federal deficits also make the nation increasingly dependent on foreign loans.
But foreign loans are also used for private and public consumption.