Reported about 9 hours ago
The World Bank is advocating for significant improvements in debt transparency for developing countries to prevent future financial crises, highlighting the need for greater disclosure of loan details amid an increase in off-budget borrowing due to global market instability. The organization emphasizes the importance of making timely and reliable financial information accessible, pushing for legal reforms, regular audits, and enhanced tools for international financial institutions to detect misreporting. While more low-income countries are reporting debt data, there's a need for deeper disclosure to allow for a comprehensive assessment of public debt exposure.
Source: YAHOO