"Borrowers should pay their debts." Most Americans would agree with this maxim and would probably apply it to debtor countries as well. There is little sympathy in evidence for the debtors, and even less for the money-center banks whose capital is badly at risk in Latin America. The discussions of such esoterica as International Monetary Fund loans, special drawing rights, and debt refinancing bring yawns. Undoubtedly, the Reagan administration's view that debt is a private matter, to be resolved between debtor countries and their creditor banks, enjoys wide public support.