Developing Nations Face $400B Debt Burden and Climate Catch-22

• Emerging countries will pay $400 billion to service external debt in 2022, a record high • 47 developing countries would risk debt default in 5 years if they invested enough for climate and development goals • 19 more countries lack liquidity to meet climate and development spending targets without help • Report calls for debt relief, more affordable finance, and changes to how IMF calculates debt sustainability • IMF must account for climate spending needs in debt assessments or risk exorbitant costs from inaction