From the COVID-19 pandemic to advanced economies' interest rate hikes, developments over the last few years have left many developing economies struggling to repay their debts.
But the problem might be even bigger than the world realizes, as many sovereign debts are hidden, undisclosed or opaque. This prevents policymakers and investors from making informed decisions.
Some low-income countries have made progress on disclosing their debts. The latest debt reporting heat map shows a rise in disclosure from 60% in 2021 to 80% today. But some countries have regressed and significant gaps and weaknesses remain.