Debt sustainability

The Millennium Development Goal Target 8.D is the main debt-related target under MDG 8, containing a commitment to deal comprehensively with debt problems of developing countries and to make their debt sustainable in the long run. In addition, Target 8.B addressed the special needs of heavily indebted poor countries. To deal ‘comprehensively’ with the debt problems of developing countries requires not just considering debt relief for old debts that are deemed unsustainable, but that actions are also taken to prevent the build up of unsustainable debt in the future.

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The MDG Gap Task Force identifies implementation gaps in the commitments made under MDG 8 and provides recommendations to all major stakeholders on how to address these gaps. According to the MDG Gap Task Force Report 2015, the main gaps in meeting commitments on debt sustainability are:

Commitment 

Debt problems of all developing countries should be dealt with comprehensively through national and international measures in order to make debt sustainable in the long term. 

Result

(as of April 2014) 

36 of the 39 eligible countries

have reached their “completion point”, receiving additional debt relief through the Multilateral Debt Relief Initiative (MDRI). 

Gap

3 HIPCs

have not yet reached “decision” point.