It's like a bunch of irresponsible adults that discover credit cards, and snowball themselves into credit hell. Heck, the IMF probably sends them direct mail marketing pieces like:

PREAPPROVED!!!

Because of your good credit standing in the world area, you've been preapproved for the IMF Platinum World Card Deluxe!

Just sign below, and your card with with a $XXX million credit line will be on its way.

or maybe:

HURRY, WHILE RATES ARE STILL LOW!

Call the World Bank today for your immediately issued Country Equity loan!

Use it for any purpose: infrastructure improvements, feeding the people, and yes, even building your military! Your choice, you get to choose what you spend the money on!

We'll even loan more than your COuntry is worth, up to 500% more!

Act today, because people smarter than us are about to shut us down.

Fine Print:
By accepting this offer, You agree to indentured servitude to World Bank, IMF, their holdings, backers, subsidiaries, their children, their children's children, and their pets. In perpetuity, forever, and ever.
Amen.