This problem has happened many times before and will happen many times again. You should familiarize yourself with the playbook. https://www.imf.org/external/n

This problem has happened many times before and will happen many times again. You should familiarize yourself with the playbook. https://www.imf.org/external/np/seminars/eng/2011/res2/pdf/crbs.pdf https://www.imf.org/external/np/seminars/eng/2011/res2/pdf/c... tl;dr: at some point, they will soft default. This means they stop paying high interest rates, inflation will run hot for a while, the debt will devalue, and with freshly reduced debt/GDP they they will spike interest rates to end inflation.