The usual setup is that an extremely corrupt goverment leader takes out a loan that gives enough money for him to be reelected and put a bit away for himself.
In return he increases income taxes, devalues the money and sets up the country for exporting luxury goods that are needed for 1st world countries (but local people would have no chance of buying) why destroying their own agriculture, so that they have to import inferior mass manufactured products from rich countries. On the long term the countries have to give back 10-20 times the original loan that is gone in a few years.
It's a cycle. Corrupt leaders run things to the ground while enriching themselves, necessitating external loans to be used to 'rescue' the situation. Guess who's in charge of administering the loans, the same corrupt leaders.
In return he increases income taxes, devalues the money and sets up the country for exporting luxury goods that are needed for 1st world countries (but local people would have no chance of buying) why destroying their own agriculture, so that they have to import inferior mass manufactured products from rich countries. On the long term the countries have to give back 10-20 times the original loan that is gone in a few years.
Does any of this sound familiar to you?