The Ottoman public debt was a term which dated back to 24 August 1855, when the Ottoman Empire first entered into loan contracts with its European creditors shortly after the beginning of the Crimean War. The Empire entered into subsequent loans, partly to finance railway construction and partly to finance deficits between revenues and the lavish expenditure of the Imperial court.
The Ottoman public debt was a term which dated back to 24 August 1855, when the Ottoman Empire first entered into loan contracts with its European creditors shortly after the beginning of the Crimean War. The Empire entered into subsequent loans, partly to finance railway construction and partly to finance deficits between revenues and the lavish expenditure of the Imperial court.
Source: Wikipedia "Ottoman public debt" · CC BY-SA 4.0
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