As 2024 starts, the good news is that there haven’t been any notable
requests by a low-income country for comprehensive debt relief since
Ghana’s, more than a year ago. Despite this, vulnerabilities remain, with
high debt servicing costs a growing challenge for low-income countries.
Financing pressures due to relatively high interest payments and the pace
at which low-income countries need to repay debt are straining budgets.
That prevents these countries from spending more on essential services or
the critical investment needed to attract business, create jobs, improve
prosperity, and build climate resilience.
One important metric is the share of revenues the government collects from
its …
