Two out of five low-income countries (LICs) were in the grips of, or moving rapidly toward, unsustainable debt levels before the global pandemic. But the economic, financial, and fiscal effects of the pandemic have brought the day of reckoning for many countries much closer. The need for massive countercyclical spending and additional health and other social spending is now layered on top of huge finance needs for the Sustainable Development Goals (SDGs), which for LICs had been estimated by the IMF to average 15 percentage points of GDP. […]