Debt servicing

Turning ambition into action will require systemic reform of trade, investment and finance to meet today’s development challenges.

Rising debt burdens are threatening the world’s already fragile path to sustainable development, warns the UN ahead of the 4th International Conference on Financing for Development.

The 14th International Debt Management Conference renewed urgent calls for global financial system reforms to ensure debt supports development rather than undermining it.

Soaring interest payments are squeezing budgets, forcing governments to choose between repaying creditors and funding essential services.

The conference will explore the drivers of the current debt-driven development crisis, and how to improve resilience and risk management amid growing global uncertainties.

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These nations, home to about 62% of the world’s poor, grapple with critical challenges and lack necessary support, particularly in access to finance.

Projecting global growth slowing to 2.2% in 2023, UNCTAD outlines actions to avert crisis and support developing countries exposed to cascading crises of debt, health and climate due to inadequate financial support.

Commodity importers are hit hardest while fossil fuel exporters register temporary windfall gains.

Many economies of the region are facing growing pressure on their external debt positions and the rising cost of living is a growing challenge to policymakers.