z 17.4 - ReadySetGooo/Sustainable-Development-Goals GitHub Wiki

Assist developing countries in attaining long-term debt sustainability through coordinated policies aimed at fostering debt financing, debt relief and debt restructuring, as appropriate, and address the external debt of highly indebted poor countries to reduce debt distress

In simple terms: Many developing countries have taken on high levels of debt from other nations/lenders. Paying back this debt with interest can become very difficult and unsustainable for them. The goal aims to help these countries manage their debt burden through policies like: Providing new financing/loans on better terms Reducing or forgiving/cancelling some of the existing debts Restructuring debts to extend repayment periods This debt assistance should be a coordinated effort between lenders and borrowers. The goal recognizes that excessive debt can cripple a poor country's ability to develop and escape poverty.