Borrowing is an important tool for financing investment critical to achieving sustainable development, including the Sustainable Development Goals. Since the Monterrey Consensus on Financing for Development (FfD), strengthened macroeconomic and public resource management has led to a substantial decline in the vulnerability of many countries to sovereign debt distress. The goal of long-term debt sustainability is one of the salient features of the Addis Ababa Action Agenda. The Agenda recognizes the need to assist countries in attaining long-term debt sustainability through coordinated policies aimed at fostering debt financing, debt relief, debt restructuring and sound debt management. This is clearly reflected in the commitments and actions in its follow-up process (see Addis Ababa Action Area monitoring by topic below).
Borrowing is an important tool for financing investment critical to achieving sustainable development, including the Sustainable Development Goals. Since the Monterrey Consensus on Financing for Development (FfD), strengthened macroeconomic and public resource management has led to a substantial decline in the vulnerability of many countries to sovereign debt distress. The goal of long-term debt sustainability is one of the salient features of the Addis Ababa Action Agenda. The Agenda recognizes the need to assist countries in attaining long-term debt sustainability through coordinated policies aimed at fostering debt financing, debt relief, debt restructuring and sound debt management. This is clearly reflected in the commitments and actions in its follow-up process (see Addis Ababa Action Area monitoring by topic below).