Debt: Management, Transparency, Statistics and Sustainability

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Reforms and relief: How Somalia turned a page amid a global debt crisis

Somalia's achievements in debt reduction send a clear signal to the world: the country turned an important page in history—yet big challenges remain ahead.
Report

International Debt Report

Debt-service payments are putting the biggest squeeze on poor countries since 2000, according to the latest International Debt Report.

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Resources

Debt & Fiscal Risks Toolkit

Explore our one-stop shop for all the tools countries need to manage, record, and assess debt.

Debt At-A-Glance

Before the COVID-19 pandemic, debt was already at record highs in emerging and developing economies. The pandemic is pushing a growing number of these countries into debt distress. Supporting the poorest countries in the fight against COVID-19 is our most urgent priority. We are deploying unprecedented support to enable countries to concentrate their resources on responding to the pandemic.

Overview

Data

Total Debt Service, % of GNI in Low-Income Countries

More Debt Data

Focus Area

Heavily Indebted Poor Country Initiative (HIPC)

Launched in 1996, HIPC was designed to ensure that the poorest countries are not overwhelmed by unmanageable or unsustainable debt burdens. To date, 37 participating countries have received over $100 billion in debt relief.

Research & Resources

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Total external debt by region (billions US$, excluding high income economies)

The World Bank’s International Debt Report 2023 highlighted rising debt-related risks for all developing economies—low as well as middle-income economies—but the strain was intensifying for the world’s poorest countries, which were squeezed by surging debt service payments. The pressure continues this year.

According to the report, developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022. The poorest countries eligible to borrow from the World Bank’s International Development Association (IDA) paid a record $88.9 billion in debt-servicing costs in 2022, 4.8 percent more than in 2021. The world’s poorest face the risk of debt crises as borrowing costs surge. The increase in costs shifted scarce resources away from critical needs such as health, education, and the environment. Learn more.

Blogs

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Experts

Manuela Francisco

Global Director, Macroeconomics, Trade and Investment

News & Events

What's New

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Latest Events

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In Depth

Trust Fund

Debt Management Facility (DMF)

The DMF is a multi-donor trust fund that supports the World Bank Group's debt management work in low-income countries.

Countries Eligible for DMF Assistance

Debt Management Facility: A 10-Year Retrospective
Debt Management Facility (DMF)
Trust Fund

Government Debt and Risk Management Program (GDRM)

The GDRM program assists countries in developing sustainable debt and risk management frameworks to reduce vulnerability to financial shocks.
Debt Transparency

Debt Service Suspension Initiative

Explore a detailed country-by-country breakdown of DSSI participants and the amounts they owe to their creditors.

Factsheet

Q&As
Debt Service Suspension Initiative
Initiative

Debt Relief

Starting more than two decades ago, the World Bank, in partnership with the International Monetary Fund (IMF) and the international community, has worked with developing countries to reduce their debt burdens.