World Bank experts are calling on countries to ensure full transparency of public debt data in order to reduce financial risks and strengthen investor confidence.

Currently, about 60% of low-income countries face serious risks of a debt crisis and spend more on servicing debt than on health care, education, and infrastructure combined. A significant share of obligations is hidden in complex off-budget instruments—such as privately placed bonds, swaps, and collateralized loans—and only a few countries publish data on each individual loan.

As a solution, the report proposes mandatory disclosure of all loan terms, legislative and institutional reforms, regular external audits, and the creation of digital platforms for data exchange between creditors and borrowers. Since 2018, more than USD 630 billion in previously unrecorded obligations have been added to the World Bank’s database, with almost half of them being private in nature. This approach helps lower borrowing costs, attract investment, and prevent future debt crises.