Debt Question

[Red Blue Pen]

Suppose there was a Socialist revolution in a country. How should the country then deal with the old regime's national debt?

[Demogorgon]

Suppose there was a Socialist revolution in a country. How should the country then deal with the old regime's national debt?

It depends on the circumstances really. In the ideal world, it could simply be ignored. But it depends on the situation in the rest of the world.

[Module]

That's an interesting question, actually.
During the Russian Revolution, for example, all national debt was considered... gone.
That would seem like the most fitting thing, in my opinion.
But I've never really considered it.

[jake williams]

It depends on the circumstances really. In the ideal world, it could simply be ignored. But it depends on the situation in the rest of the world.
Very much so, and moreover it depends on the kind of debt. There are a whole bunch of factors that need to be considered. One worth thinking about is that on one hand, there might be "ideological" value in ignoring it, but on the other hand, a new socialist state might well want to be making friends internationally, and accept paying off a debt as a means of good foreign relations.

[Q]

Very much so, and moreover it depends on the kind of debt. There are a whole bunch of factors that need to be considered. One worth thinking about is that on one hand, there might be "ideological" value in ignoring it, but on the other hand, a new socialist state might well want to be making friends internationally, and accept paying off a debt as a means of good foreign relations.
Committing yourself to "paying off" debts will automatically mean you're subject of capitalism and imperialism as debt is one of the chains linking it to that system. If a socialist revolution is at hand, one of the programmatical demands should be freedom from imperialism, thusly debts are to be nullified.

[spartan]

Didnt the USSR nullify all debts that it had, carried over from the old regime, after its formation?

Anyway there is absolutely no point in a self described Socialist state playing by the Capitalists rules so fuck debt!

[Bright Banana Beard]

if we did pay the debt, they will think as us as a new slave nation but in fact we could fool them back.

[Q]

if we did pay the debt, they will think as us as a new slave nation but in fact we could fool them back.
Elaborate?