Developing Countries: Debts

Tackling unsustainable debt in low-income countries is a key development priority for this government. We are working closely with partners to strengthen and speed up the G20 common framework, and to enhance debt transparency for debtor and creditors. We have set up the new London Coalition on Sustainable Sovereign Debt, to promote contractual innovations for increased resilience and to make restructurings quicker.


The government welcomes the package to support debt sustainability in the outcome document agreed at the UN’s Seville Conference on Financing for Development in June, specifically the strong action to improve debtor voice, debt transparency, disaster pause clauses and strengthen the G20 Common Framework. We will maintain momentum on reforms to the existing debt architecture. We are also engaging with partners on the intergovernmental process at the UN