Nations do not have an expiry tag!
When we take out a loan, we got to pay back till we are economically alive…but countries do not have to.
They can continue to roll over as long as rates are low, and markets are not frozen.
The absolute amount of debt does not matter. Debt/GDP could be kept artificially low by propping up the denominator through deficit spending and money creation, and interest expenses are managed by issuing more papers.
With these macro variables in control and no risk to the country’s rating and currency, the show could go on—indefinitely.
And if inflation rears its ugly head ever, it will help more in extinguishing the debt by lowering the real value of payback amount.