Highlights:
Low-income countries face a sweeping debt crisis, making it all the more urgent for the IDA21 replenishment to be the largest ever.
Ballooning debt payments are pulling scarce resources from development priorities, threatening hard-won development gains and investment in people and environment.
Private lending to low-income countries has evaporated, leaving the World Bank and other multilateral development banks the lender of last resort for many countries—particularly the poorest.
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