Presenting preliminary estimates of external debt stocks at end-2021 for low- and middle-income countries and information on new bond issuance in international capital markets. As well as an update on new initiatives to enhance debt transparency and broaden the coverage of the debt data collected and disseminated by the World Bank.
Debt transparency is critical for attaining sustainable financing and achieving macro-financial stability. It facilitates new, high-quality investment, reduces corruption, and brings accountability.
Policymakers must mitigate the other threats to development around the world: soaring food and energy prices, persistent stagflationary pressure, increasingly perilous debt overhangs, growing inequality and instability, and the myriad risks stemming from climate change.
With several emerging market and developing economies facing the prospect of not being able to service their debt, a “hidden debt surprise” could hinder efforts to assist these vulnerable countries.
Remarks by World Bank Group President David Malpass at the 2022 Spring Meetings.
Senior Economist, Development Data Group
Economist, Development Data Group
Economist, Development Data Group
