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Debt and debt sustainability

The goal of long term debt sustainability is one of the salient features of the Monterrey Consensus on Financing for Development (FfD) and is reflected in the commitments and actions in its follow-up process. While traditionally debt problems were considered an issue pertaining to developing countries, the 2008 financial crisis revealed debt sustainability issues in some of the advanced countries as well. In addition, the FfD process recognizes the impact of systemic risk and the external environment on debt sustainability.

The FfD commitments encompass actions to comprehensively address debt crisis prevention and resolution. The Addis Agenda specifically recognizes the need for action in attaining long-term debt sustainability. Countries agreed to support capacity building in debt management to maintain debt sustainability in debtor countries, as well as to strengthen analytical tools for debt sustainability assessments along with other tools of debt crisis prevention and management.