A development-focused foundation has called on governments and international financial institutions to consider debt relief measures for developing countries, arguing that such interventions would free up critical resources for investment in health and education.
The foundation said many countries, particularly in Africa, are currently constrained by rising debt servicing obligations, which significantly limit their ability to fund essential social services and development priorities.
According to the organisation, a reduction in debt burdens would enable governments to channel more resources into strengthening healthcare systems, improving access to quality education, and expanding social protection programmes for vulnerable populations.
It noted that underfunding in the health and education sectors continues to hinder progress toward achieving sustainable development goals, particularly in areas such as maternal health, disease prevention, school enrolment and learning outcomes.
The foundation emphasized that debt relief, if properly structured, would not only ease fiscal pressure but also promote long-term economic stability and human capital development in low-income countries.
It further urged stronger collaboration between creditor nations, multilateral institutions and developing economies to design fair and transparent debt restructuring frameworks that support growth and development.
Stakeholders in the development sector have also echoed similar concerns, warning that without urgent reforms, many countries may struggle to meet basic social service obligations amid increasing financial constraints.
The foundation reaffirmed its commitment to advocating for policies that prioritize investment in people, particularly in health and education, which it described as the foundation for sustainable development and economic progress.