As public health systems and economies grind to a halt, it is becoming increasingly clear that the impact of COVID-19 will reverberate throughout the global economy for years to come. Prior to this emergency, multilateral organisations were already warning that debt sustainability in low-income countries was deteriorating. Now, the World Bank and IMF have called on bilateral creditors to support debt relief. This is urgently needed as low-income countries are at an immediate risk of a debt crisis whilst simultaneously facing an urgent need to support public health needs and their economy. The COVID-19 pandemic is a global challenge which requires international cooperation and coordination.