This report analyzes fiscal challenges in emerging markets and proposes a flexible, transparent framework for sustainable debt management and improved fiscal resilience.
The report introduces the Debt for Resilience (D4R) initiative, a new approach to debt relief for International Development Association–eligible countries that redefines current debt vulnerabilities as structural balance of payments pressures—rather than mere liquidity issues—offering targeted debt reduction and policy support to safeguard economic stability and enable long-term development investments.