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Raising the bar on debt data transparency

Raising the bar on debt data transparency

Total public debt stands at an alarming 50-year high in low- and middle-income economies, the equivalent of more than 200 percent of government revenues. With the pandemic-induced economic slowdown, the impact of the war in Ukraine, and the rise of interest rates, many countries are facing severe challenges in servicing their debt. According to the World Bank’s recent International Debt Statistics 2022 report, as a result of COVID-19, the external debt burden of the world’s low-income countries rose by 12% to a record $860 billion in 2020 —the fastest accumulation since World War II. […]