Ending Debt Secrecy: Recommendations to the G20 on Anti-Corruption in Sovereign Borrowing and Lending

Nearly half of low-income developing countries are in debt distress or at high risk of it. This makes unsustainable debt a compounding problem worldwide, driving countries into economic crises that threaten their fiscal health and economic stability.

G20 countries play an instrumental role in coordinating policies on global financial stability, economic growth, financial regulation and debt management. Opacity, secrecy and corruption are critical enablers of unsustainable debt. As part of the G20’s ongoing work to address this challenge, member countries must ensure their policy response strongly factors transparency, accountability and anti-corruption safeguards into sovereign debt acquisition and management.

This report presents a set of recommendations to the G20 aimed at strengthening transparency, accountability, and integrity in sovereign borrowing and lending.