Nigeria, Aug. 6 -- A country's reputation is one of its most valuable assets, yet also one of the most fragile. Nations are judged not just by their economic strength or physical development but by how they manage resources, uphold principles of accountability, treat their people, and honour their obligations. Once a country loses credibility in these areas, it begins to attract negative global attention, which can take generations to undo. Among the many issues that tarnish a country's image, the attitude of borrowing without repayment is one of the most damaging.

Borrowing itself is not inherently wrong. In fact, many developed countries take loans to fund infrastructure, stimulate growth, or respond to emergencies. The problem begins ...