International Debt Statistics: 50 Years of Transparency
Over the past 50 years, the World Bank’s International Debt Statistics has become the most important and transparent source of external debt data of low- and middle-income countries. Why does this matter? Because in the past, poor debt transparency led many countries to sleepwalk into debt crisis. Knowing what a country owes and to whom is essential for better debt management and sustainability. And when problems arise, clear data can guide debt restructuring efforts to get a country back on track toward economic stability and growth. This is all the more important now that debt levels in developing economies are at worrying levels. The 2023 International Debt Report marks the 50th anniversary of the collection of external debt data at the World Bank. Read the report here: http://wrld.bg/KNyV50Qi2pf
00:00 Debt transparency for better debt management and sustainability
00:41 How did we get here? 2008 financial crisis
01:30 Debt report, statistics, and data collection
02:32 Having a clear picture of the challenge
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ABOUT THE WORLD BANK 🌐 The World Bank is one of the world’s largest sources of funding and knowledge for low-income countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development on a livable planet. http://www.worldbank.org
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