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Public Debt Confidentiality
Citizens have a right to know about their country’s debt because public debt is the public’s debt. When governments go into debt, they are putting their citizens’ futures up as collateral. The benefits of debt transparency – reduced borrowing costs (interest rates) and improved efficiency of public spending – are well-documented.1 Debt relief processes aimed at restoring sustainability for debt-distressed countries also rely on comprehensive debt data by debtors and creditors. […]