Launch of Seville Forum on Debt

• UN Secretary-General Antonio Guterres announced the creation of the Seville Forum on Debt, during the 16th United Nations Conference on Trade and Development (UNCTAD16) in Geneva on October 22.

• The new forum is one of the outcomes of the Fourth International Conference on Financing for Development (FfD4) and was launched as an initiative under the Seville Platform for Action. 

• These initiatives will complement the Seville Commitment, the outcome adopted at the Conference that sets out a roadmap to strengthen development financing.

• The Seville Forum is a Spanish-led initiative, supported by UNCTAD and UN Department of Economic and Social Affairs (UN DESA), to create an open, inclusive platform for dialogue and action on global debt challenges.

• The launch of the Seville Forum stands out as one of FFD4’s first tangible outcomes — turning the political commitments of the Seville Commitment into an institutional mechanism to advance fairer and more predictable debt governance. 

• The Seville Forum will bring together all partners — including developed and developing countries alike, and finance ministers and creditors — in a global dialogue on debt. 

• It will sustain political attention on the agreements on debt reached in Seville, while developing technical pathways to bring them to life. 

• This includes taking forward the commitment to consolidate and uphold principles on responsible borrowing and lending, and gathering new ideas to advance debt architecture reform, which is long overdue.

• Spain will host and support the forum, working with the UN to advance consultations on its structure and next steps.

Debt remains a critical global challenge

• The United Nations, through UNCTAD and UN DESA, has put forward research on sovereign debt challenges and solutions, with UNCTAD long supporting developing countries in managing debt crises. 

• The UN Secretary-General has highlighted the need for comprehensive reform of the global debt architecture.

• In 2024, global public debt reached $102 trillion — the highest on record. 

• Developing countries account for $31 trillion and paid $921 billion in interest payments alone in 2024.

• UNCTAD warns that 3.4 billion people live in countries spending more on debt servicing than on health or education. 

• The debt burden is pushing many developing economies into untenable positions, requiring urgent and systemic responses.

• The Seville Forum will allow a substantive dialogue between all parties, borrowers and lenders, academia, civil society, international organisations and experts, to share knowledge, promote coordination, and develop innovative solutions to debt problems.