i. Creates bad blood between the tender and the borrowed thus leading to suspicion, mistrust, resentment and hatred between the lender and the borrower.
ii. It may lead to corruption as the borrower strives to pay off hence will looks for illegal ways and means of paying off debt.
iii. It widens the economic gap between the rich and the poor/ the haves and the have not.
iv. It is a form of exploitation since it leads to misappropriation of other people’s property without giving anything in return.
v. It prevents people from working to earn money lawfully.
vi. It leads to inequality between the rich nations and poor nations.
vii. It keeps individual and countries in a vicious cycle of poverty.
viii. May causes suffering/ hardship to the borrower and his/ her family.
Kavungya answered the question on June 21, 2019 at 07:10
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