The two are related. 

They have to borrow from other countries and IMF because no one will buy their bonds 



Add to that an inflating local currency, and you suffer even more if you hold foreign debt (dollar, yuan, etc).

south_korea_ln

Everyone is poor?

https://www.youtube.com/shorts/38gnq9vkJcU

Oh wait, that just amplifies your second point.

Everyone is poor in the third world 

And corrupt 

Maybe try less corruption as a strategy for development 

Bell_curve

“A high debt burden is a huge drain on a country’s economy and hit the poorer parts of the population first through cuts in welfare, education, or health expenditure to pay debts.

“A debt crisis is paralysing and undermines all other development efforts."

econ

Developing countries face worst debt crisis in history, study shows

>  “A high debt burden is a huge drain on a country’s economy and hit the poorer parts of the population first through cuts in welfare, education, or health expenditure to pay debts.
>
> “A debt crisis is paralysing and undermines all other development efforts."