Getting Debt Sustainability Right in Developing Countries by Kevin P. Gallagher, José Antonio Ocampo and Kunal Sen

For too long, the global framework for assessing and managing debt sustainability in low- and middle-income countries has rested on a glaring fallacy. The entire system needs to be rethought, moving from a narrow focus on debt reduction to one that accommodates growth-enhancing investment.

HELSINKI – A slowing global economy, rising trade tensions, and increased risks of recession could mean a perfect storm for low- and middle-income countries (LMICs) burdened by high sovereign debt. Faced with exorbitant borrowing costs and an increasingly jittery international environment, these countries’ potential for economic growth and development will be severely curtailed.

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