Back in 2016, the economy of Mozambique tipped into crisis. The culprit was a government corruption scandal linked to more than $1 billion that officials borrowed in secret. This was a high-profile example of hidden debt, but it's far from the only example. In fact, this kind of secret borrowing is a large and common problem among countries. Today on the show, a pair of economists share their new research on hidden debt and how it affects everyday people.Related Episodes: Why a debt tsunami is coming for the global economyWhat looks like a bond and acts like a bond but isn't a bond?For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

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