Definition of debt trap in English:

debt trap


  • A situation in which a debt is difficult or impossible to repay, typically because high interest payments prevent repayment of the principal:

    ‘a new personal bankruptcy law aims to help individuals free themselves from the debt trap’
    ‘countries like Greece and Portugal are already caught in a debt trap’
    • ‘She admitted borrowing money to buy a car but didn't want others falling into the same debt trap.’
    • ‘I see people getting themselves into the debt trap, borrowing up to the hilt.’
    • ‘But several of them are sliding back into a debt trap due to weak exports or renewed borrowing.’
    • ‘It should mostly be in the form of grants, not loans, to avoid future debt traps.’
    • ‘One unwanted result of such enforced action would inevitably be a debt trap.’
    • ‘"Failure to provide a legal frame for managing loans would place the country in a debt trap," he said.’
    • ‘The debt trap is far more significant than many in the north understand.’
    • ‘He soon began feeling that he had landed in a debt trap.’
    • ‘As well as helping people to escape the debt trap, extra effort needs to be put into helping them to avoid living beyond their means in the first place.’
    • ‘He warned that vulnerable consumers were being lured into a debt trap without understanding the full implications.’
    • ‘The debt trap often springs with us only feeling the pain at a later stage when getting out has become almost impossible.’
    • ‘In the Third World, foreign debts equal to 60% or 80% of GDP have been known to trigger the debt trap.’
    • ‘Some of these loans though offered on soft terms tend to tie countries to long terms of repayments thus locking future generations to debt traps.’
    • ‘We need to take the required measures to prevent us sliding into the debt trap.’
    • ‘Small farmers are entangled in the debt trap.’
    • ‘The global debt trap is not so easily eluded.’
    • ‘The best way out of the debt trap is to seek advice early, she said.’
    • ‘Writing off loans or giving soft loans won't bring the farmers out of the debt trap.’
    • ‘Through such lending practices, elite farmers built up their wealth while poor farmers found themselves ensnared in a chronic debt trap.’
    • ‘Weddings also land middle class and poor families in the debt trap, even without paying a dowry to the groom.’