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Preventing the next debt or finance crisis

Consumer pays for purchase in Indonesia, 2009. Photo: ADB, CC BY-NC-ND 2.0

Global debt levels – both public and private – are at a record high. The global financial crisis continues to cast a long shadow on the global economy, and chances of another major financial meltdown at regional or global level are increasing.

A rising number of developing countries are also facing major sovereign debt crises that could scupper their chances of meeting the Sustainable Development Goals (SDGs). In short, the global financial system continues to present major risks to the global economy and to developing countries which could fatally undermine prospects of meeting the SDGs.

At the same time, there is no shortage of proposals on how to tackle the problems, reduce the risks, and make sure the financial system supports SDG progress – not undermines it. Reform processes are overseen by the G20 group of major economies and led by a variety of international institutions. But are they doing enough to fix the system?

In this series of blogs, briefing papers and reports, we examine whether a new debt or financial crisis is brewing that could threaten the SDGs – and what should be done to prevent it.

Catch up on all outputs from the series below, or find out more about our Development Strategy and Finance programme.

Staff