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Update on the Joint World Bank/IMF Multipronged Approach to Address Debt Vulnerabilities (English)

Amid rising debt risks in low-income developing countries and emerging markets, the IMF and the WB have been implementing a multipronged approach (MPA) to address debt vulnerabilities. Amplification of debt risks owing to COVID-19 has upped the urgency to implement the MPA and highlights the importance of debt sustainability and transparency for long-term financing for development. At the same time, it should be noted that countries have limited capacities which are further stretched by COVID-19 and that implementation of the MPA by itself may not be sufficient to address debt vulnerabilities and risks from global economic shocks. The MPA is organized around four mutually-reinforcing pillars. It seeks to (i) strengthen debt transparency by helping borrowing countries, and by reaching out to creditors, to make better public sector debt data available; (ii) support capacity development in public debt management to avert and mitigate debt vulnerabilities; (iii) provide suitable tools to analyze debt developments and risks; and (iv) explore adapting the IMF’s and World Bank’s lending policies to better address debt risks and promote efficient resolution of debt crises.

Details

  • Author

    World Bank Group International Monetary Fund

  • Document Date

    2020/11/12

  • Document Type

    Board Report

  • Report Number

    154975

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    World,

  • Region

    The World Region,

  • Disclosure Date

    2020/12/14

  • Disclosure Status

    Disclosed

  • Doc Name

    Update on the Joint World Bank/IMF Multipronged Approach to Address Debt Vulnerabilities

  • Keywords

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Citation

World Bank Group International Monetary Fund

Update on the Joint World Bank/IMF Multipronged Approach to Address Debt Vulnerabilities (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/351311607717096586/Update-on-the-Joint-World-Bank-IMF-Multipronged-Approach-to-Address-Debt-Vulnerabilities