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Around 3.3 billion people live in countries that spend more on debt than health or education. Yet, information on loans is difficult to find, fueling corruption, undermining trust in democracies, and jeopardizing debt sustainability. Mozambique’s infamous Hidden Debt scandal shows just how devastating hidden debt can be. However, even when debt isn’t hidden, legislatures usually have very little input on the public debt or conduct adequate oversight of it, often because of inadequate legal frameworks and lack of capacity on public debt issues.
March 26, 2024
March 6, 2024