Hidden debt revelations occur when previously undisclosed government liabilities come to light, revealing that reported public debt stocks understated governments' true obligations. Collateralized loans, central-bank swap lines, state-owned-enterprise guarantees, overdue payments to government contractors, and other off-budget liabilities can accumulate outside routine debt reporting and surface abruptly, often during an International Monetary Fund (IMF) review, an audit, or a change of government. […]