Debt sustainability

Since the United Nations Millennium Summit in 2000, there has been considerable change in the landscape of sovereign debt in developing countries, with many low- and middle-income countries accessing international capital markets, some of them for the first time. The debt indicators of Goal 8 of the Millennium Development Goals (MDGs) focused on the debt difficulties of the heavily indebted poor countries (HIPCs), which have largely been addressed under the terms of the HIPC Initiative and the Multilateral Debt Relief Initiative (MDRI) that complemented it. This is not to say that there are no new risks in some of the HIPC countries, or that other low- or middle-income countries have not also faced debt crises since 2000. In particular, as discussed below, there is currently reason for concern about the debt situation of a number of small States. While Goal 8 contained no indicators for addressing debt crises in non-HIPCs, it implicitly addressed these countries when it called for policies that would lead to sustainable debt levels for all developing countries.

Sustainable Development Goals:

Partnerships for the Goals