The world runs on debt. You need people/countries in debt in order for the system to operate. Here is an example of a country which tried to escape it and didn't fare well. It might also have had something to do with it being socialist.
It might also have had something to do with having a planned economy unable to fulfil the most basic of the population needs, from food to toilet paper. Rather shocking for a country that used to be Europe's wheat exporter before installation of communism and Russian-controlled puppet regimes.
https://www.washingtonpost.com/archive/politics/1989/04/14/d...
https://en.wikipedia.org/wiki/Foreign_debt_of_the_Socialist_...