Developing countries, especially the poorest and most vulnerable, face continued elevated debt challenges. More than half the countries that use the joint International Monetary Fund (IMF)-World Bank Debt Sustainability Framework for Low-Income Countries are at high risk of or in debt distress. Debt service burdens could crowd out vital investments and constrain progress towards the Sustainable Development Goals (SDGs) in many developing countries. While debt levels have broadly stabilized after spiking in the first year of the pandemic, the high costs of servicing and refinancing debt amid tight global financial conditions add to the debt vulnerabilities of many developing countries. […]