In February 2021, the International Monetary Fund (IMF) issued a warning about the state of public debt. While the world's poorest countries were openly facing debt vulnerabilities, many emerging markets were also facing significant risk.
The world is currently facing an unprecedented level of sovereign debt – and debt is continuing to pile up. The state of sovereign borrowing was critical prior to the pandemic, with several countries already facing limited fiscal space and increasing levels of debt, but the situation has deteriorated, tipping some economies over the edge.
This is the first report in our new series of publications, Good Practices in Sovereign Debt.
Download the report:
The Debt Burden: How to Create a Better Debt Management Framework [PDF 2,998KB]
Professor Rodrigo Olivares-Caminal (Centre for Commercial Law Studies, Queen Mary University of London) and Professor Paola Subacchi (Chair of the Queen Mary Global Policy Institute Advisory Board, Queen Mary University of London)