The Australian Bureau of Statistics shows that between June 1999 and June 2009, Australia’s debt to the rest of the world increased sharply. In the meantime the exchange rate of Australian dollar...

The Australian Bureau of Statistics shows that between June 1999 and June 2009, Australia’s debt to the rest of the world increased sharply. In the meantime the exchange rate of Australian dollar changed in the international market. Do you think that the there is a link between the exchange rate and external debt. If so, how would depreciation in the Australian dollar affect the Australian debt in the future, ceteris paribus?