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Anyone paying 7% is doing so to compensate for risk.

• jacknews 12y ago
  Yes and no. There are countries that use USD as well as their own currencies. Often the banks offer much better rates than any US bank. Part of that is the risk of the bank collapsing, or the government confiscating deposits, introducing windfall taxes, etc, but part of it simply reflects supply and demand - sometimes those banks find it hard to borrow internationally themselves, and are desperate for deposits.