Sevilla Forum on Debt Launched to Address Global Sovereign Debt Crisis

• The Sevilla Forum on Debt was launched on 22 October 2025 during UNCTAD16 in Geneva to tackle rising global sovereign debt challenges. The initiative is led by Spain , supported by UNCTAD and the UN Department of Economic and Social Affairs (DESA) .

Purpose and Objectives:

• Serve as a permanent platform for borrower-creditor cooperation .

• Promote responsible borrowing and lending .

• Advance global debt architecture reforms and track implementation of the Sevilla agreements .

Spain’s Role:

• Host and finance the Forum.

• Acts as a “bridge between borrowers and creditors.”

• Initiatives include the Debt Pause Clause Alliance and Global Hub for Debt Swaps for environment-linked debt relief.

Global Debt Context:

• Global public debt reached $102 trillion in 2024.

• Developing countries hold $31 trillion , paying $921 billion in interest.

• 3.4 billion people live in countries spending more on debt than on health or education.

Significance:

• Enables regular dialogue among governments, creditors, and experts.

• Aims for transparency, predictability, and fairness in debt management.

• Supports implementation of UN Sustainable Development Goals .