Arabic to English Bus/Financial Economics

This is from a section in an Egyptian policy paper about Thailand's economic crisis in 1983 / 1987.

The full line reads:
في الوقت الذي كبلت فيه السياسة النقدية الانكماشية الاقتصاد المقترضين بأعباء الفائدة المرتفعة

I know the meaning of كبلت as 'to keep someone waiting for the payment of a debt.'

So does this line mean:
"at a time when contractionary economic policy kept borrowers waiting with the burden of high interest rates."