Finance ministers from the 77 economies in the V20 group most affected by disasters called for longer-term concessional finance and greater investment in education, health and clean water, as part of the next phase of the Vulnerability to Viability (V2V) Compact. New analysis found that nine in ten assessed V20 countries sit outside the low debt-risk category of the IMF and World Bank Debt Sustainability Framework. Of the 48 eligible members, five are in debt distress, 17 at high risk, 22 at moderate risk and only four at low risk. Ministers welcomed the Lifeline Fund, the first multi-regional arrangement to provide rapid liquidity when climate shocks create balance-of-payments needs. Barbados Finance Minister Ryan Straughn said debt swaps offer only partial relief and a broader debt strategy is needed.
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