What debt did Mexico incur during its war for independence?

During its war for independence, Mexico incurred significant debts to finance the conflict against Spanish rule. The figure of $4.5 million is historically cited as the estimated debt that Mexico accumulated due to military expenses, purchasing arms, and supporting revolutionary efforts. This amount reflects the considerable financial strain on Mexico as it sought to secure its sovereignty, which ultimately influenced its economic situation in the following years. The war for independence was a pivotal moment for Mexico, not only politically but also economically, as the debts would have implications for the young nation’s finances post-independence.