Reform of its lending arrangements for middle-income countries is overdue When considering the economic and development challenges of developing economies in the face of the climate crisis, most people tend to view debt as a complicating factor at best and a source of many of our problems at worst. There are good reasons for this. Rising public debt across the developing world—and the surging interest bills that accompany it—is diverting public funds from already underfunded health and education programs. It threatens to push more countries into outright distress and more people back into poverty. […]