Debt financing plays a crucial role in fostering economic development, particularly in developing countries. When strategic debt financing is directed toward policies that promote growth and reforms that enhance efficiency, it can serve as a catalyst for long-term sustainable development. However, excessive indebtedness could pose a significant challenge for emerging economies, potentially impeding their progress toward sustainability. This risk is particularly pronounced in contexts with weak governance, where elevated public debt levels may erode developmental gains and obstruct the transition to sustainable development. Given these complex dynamics, this study investigates the interplay between public debt, governance, and sustainable development in 35 developing countries […]