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3.4 billion people now live in countries where debt interest payments are greater than expenditure on health or education<\/em><\/p>\n New York, June 27, 2025 –<\/strong> Ä¢¹½ÊÓƵ Secretary-General today presented new recommendations\u2013Confronting the Debt Crisis:<\/em><\/strong> 11Actions to Unlock Sustainable Financing<\/em><\/strong><\/a>\u2013that aim to break the cycle of debt distress and lay the foundation for unlocking long-term, affordable financing that supports sustainable development.<\/p>\n With two-thirds of low-income countries now at high risk of\u2014or already in\u2014debt distress, the report highlights a growing crisis: soaring debt service costs are crowding out vital investments in education, health, and climate resilience.<\/p>\n \u201cThe current global debt system is unsustainable, unfair and unaffordable, with many governments spending more on debt payments than on essentials like health and education combined,\u201d said the Secretary-General. \u201cThese 11 immediately actionable proposals can help resolve the debt crisis, empower borrower countries, and create a fairer system.\u201d<\/p>\n Prepared by the Ä¢¹½ÊÓƵ Secretary-General\u2019s Expert Group on Debt,<\/strong> the report reinforces the commitments put forward in the FfD4 Outcome Document and makes the case that an end to the debt crisis is entirely feasible\u2014if opportunities are seized.<\/p>\n Implementing Policy Priorities<\/strong><\/p>\n Acknowledging the dedication of the Expert Group, the Secretary-General emphasized that the actions, rooted in the Outcome Document, have the potential to drive both short-term impact in relieving pressures on indebted countries, and long-term impact expanding access to long-term, affordable financing that drives sustainable development.<\/p>\n The actions are structured around three areas: reforming the multilateral financial system; strengthening cooperation among and providing technical assistance and capacity-building support to borrowing countries; and encouraging borrowing countries themselves to adopt policies and reforms that result in enhanced debt management and improved financing strategies.<\/p>\n They include efforts to normalize debt service pauses during crises, including climate-related disasters or other external shocks. This gives space for urgently needed resources to go toward crisis responses. Another area the Ä¢¹½ÊÓƵ is ready to support is the implementation of a Sevilla forum on debt.<\/p>\n About the Secretary-General\u2019s Expert Group on Debt<\/strong><\/p>\n Established in December 2024, the Secretary-General\u2019s Expert Group on Debt<\/a> brings together global leaders and technical experts to identify actionable, politically viable solutions to the current debt and development crisis.<\/p>\n Led by the Ä¢¹½ÊÓƵ Conference on Trade and Development (Ä¢¹½ÊÓƵCTAD) as Secretariat, with support from the Ä¢¹½ÊÓƵ Department of Economic and Social Affairs, Ä¢¹½ÊÓƵ Development Programme and Ä¢¹½ÊÓƵ Regional Economic Commissions, the Secretary-General called for urgency in implementation.<\/p>\n The Group is chaired by Mr. Mahmoud Mohieldin, Ä¢¹½ÊÓƵ Special Envoy on Financing for the 2030 Agenda, with co-chairs Mr. Paolo Gentiloni, former EU Commissioner for Economy; Mr. Trevor Manuel, former South African Finance Minister; and Ms. Yan Wang, Senior Researcher at Boston University\u2019s Global Development Policy Center.<\/p>\n About FFD4<\/strong><\/p>\n The Fourth International Conference on Financing for Development<\/a>, to take place in Sevilla, Spain, from 30 June to 3 July 2025, presents an opportunity to address these adverse debt dynamics and assist in getting development back on track.<\/p>\n The Conference is expected to adopt the Compromiso de Sevilla, <\/em>an intergovernmentally negotiated outcome, which was approved for adoption by consensus at the Fourth Preparatory Committee Meeting for FFD4 (17 June 2025).<\/p>\n The Conference will mark the beginning of implementation of the Outcome Document, signaling a new phase of collective action on financing for development. Coalitions of countries and diverse stakeholders will announce ambitious commitments and solutions under the Sevilla Platform for Action <\/em>that will operationalize the renewed financing framework and move from dialogue to delivery.<\/p>\n NOTE TO EDITORS:<\/strong><\/p>\n Please see below, the snapshot policy recommendations and visit here<\/a> for the full report:<\/p>\n Media Contacts:<\/strong><\/p>\n Francyne Harrigan, Ä¢¹½ÊÓƵ Office for Partnerships | harriganf@un.org<\/a><\/p>\n\n
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