Reform of the International Debt Architecture is Urgently Needed

The COVID-19 pandemic has pushed debt levels to new heights. Compared to end-2019, average 2021 debt ratios are projected to rise by 20 percent of GDP in advanced economies, 10 percent of GDP in emerging market economies, and about 7 percent in low-income-countries. These increases come on top of debt levels that were already historically high.…

Voluntary Principles For Debt Transparency

Amid growing concern about the implications of rising global debt levels, policymakers and private sector leaders alike have been in search of ways to support debt sustainability. With encouragement from official sector collaborators and a clear mandate from the Board of Directors of the Institute of International Finance (IIF), this set of Voluntary Principles for…