Can a collaborative approach break the credit rating impasse?

The recent Global Sovereign Debt Roundtable (GSDR) held in Washington DC addressed the pressing issue of mounting debt burdens faced by low- and middle-income countries (LMICs). Despite the progress in tackling global debt vulnerabilities, as acknowledged by the IMF and World Bank in the newly released GSDR report, and the glimmer of hope offered by Zambia’s hard-won debt restructuring deal finalised in early April, a major roadblock persists for LMICs – the credit rating downgrades.