Sovereign debt has historically played a crucial role in providing emergency and development finance for budget support, monetary policy management, foreign reserves accumulation, and loan refinancing. However, debt accumulation often comes under scrutiny when low-income countries (LICs) experience widespread debt crises, such as the 1999 crisis that led to the Heavily Indebted Poor Countries (HIPC) Initiative. Experts argue that while debt itself is not inherently bad, its sustainability, transparency and responsible management are what matter. […]