How can governments effectively manage their finances amidst rising debts and spending pressures?

Governments facing escalating debts and growing spending pressures need to implement strategic measures to manage their finances effectively. Key approaches include implementing structural reforms, investing in skills and infrastructure, and deploying patient capital for sustainable growth and the transition to a greener economy.

Developing countries should focus on improving tax collection, while international efforts in debt restructuring and strengthening financial institutions remain crucial. It is imperative for governments worldwide to confront the challenging decisions at hand and stop avoiding them, as continuous borrowing without consequence is unsustainable.

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