Debt sustainability risks in developing economies have amplified in recent years in the aftermath of the coronavirus disease (COVID-19) pandemic. Fiscal support packages implemented due to the pandemic led to higher stocks of public debt, while tighter global monetary conditions in 2022 and 2023 increased the cost of financing public debt, widening fiscal deficits. Managing the inflationary effects of pandemic-related fiscal expansions, global supply chain disruptions, and the commodity price ramifications of the Russian Federation’s invasion of Ukraine created significant challenges for policy makers. These challenges were compounded by the ongoing need to address climate risks with appropriate adaptation and mitigation measures, placing further strain on the sustainability of public debt. […]