Meaning of “toxic debt” in the English Dictionary

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"toxic debt" in Business English

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toxic debtnoun [ U ]

uk us FINANCE

debt that has little chance of being paid back or of being paid back with interest, or an asset of which this is true:

The trading of toxic debt was one of the major causes of the financial crisis.
Banks are currently in no position to cope with more toxic debt.

(Definition of “toxic debt” from the Cambridge Business English Dictionary © Cambridge University Press)