Finding a way out of the debt morass: A conversation featuring the United Nations Expert Group on Debt

Read the event summary here.

Escalating public debt levels in many developing countries have surged to unforeseen heights. At the same time, rising interest costs are tightening fiscal space and limiting essential public investment. Today, more than half of the 68 countries eligible for the International Monetary Fund’s Poverty Reduction and Growth Trust face debt distress—more than double the number in 2015. In 2023 alone, developing countries spent a record $1.4 trillion on debt service, nearly 4% of their gross national income. This growing burden is not only financial; it also carries significant implications for development. An estimated 3.3 billion people live in countries that spend more on debt payments than health or education, with the vast majority residing in middle-income economies.

The 2030 Agenda for Sustainable Development is at a critical crossroads. With fewer than one-fifth of the Sustainable Development Goals on track and the annual financing gap estimated at $4 trillion, decisive and coordinated action is needed.

On April 23, the Center for Sustainable Development at Brookings hosted a high-level panel featuring members of the newly established United Nations Expert Group on Debt, alongside other leading voices in economic and development policy. The event took place on the sidelines of the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund and explored concrete, politically feasible pathways to address worsening debt dynamics, with a focus on systemic reforms, innovative financing mechanisms, and approaches to global financial governance, broadly defined.

Audience members submitted questions during the event via #UNDebtExperts on X or Bluesky or by emailing [email protected]. Media inquiries may be directed to [email protected].