Defusing debt risks

Asian developing countries are faced with a severe debt situation. The current debt-to-GDP ratio of the developing countries in Asia is much higher than the international redline for developing countries of 60 percent. According to the International Monetary Fund, the general government debt-to-GDP ratio of emerging and developing economies in Asia was 71.8 percent in 2021, a level which is second only to that of Latin America and the Caribbean.