A/RES/67/198 External debt sustainability and development situations, and encourages Member States, the Bretton Woods institutions, the regional development banks and other relevant multilateral financial institutions and stakeholders to continue the ongoing discussions on this issue, inter alia, within the framework of the initiative of the United Nations Conference on Trade and Development to promote responsible sovereign lending and borrowing; Recognizes the role played by the Debt Sustainability Framework for 4. Low-Income Countries, jointly developed by the International Monetary Fund and the World Bank, to guide borrowing and lending decisions, notes the recent review of the Framework, and encourages the continued periodic review of the Framework in an open and transparent manner and with the full engagement of borrower and creditor Governments; Reiterates that no single indicator should be used to make definitive 5. judgements about a country’s debt sustainability, and, in this regard, while acknowledging the need to use transparent and comparable indicators, invites the International Monetary Fund and the World Bank, in their assessment of debt sustainability, to continue to take into account a country’s structural weaknesses and the fundamental changes caused by, inter alia, natural disasters, conflicts and changes in global growth prospects or in the terms of trade, especially for commodity-dependent developing countries, as well as by the impact of developments on financial markets, and to provide information on this issue to Member States, using the appropriate frameworks; Recognizes that the long-term sustainability of debt depends on, inter alia, 6. economic growth, mobilization of national and international resources, export prospects of debtor countries, responsible debt management, sound macroeconomic policies, transparent and effective regulatory frameworks and success in overcoming structural development problems, and hence on the creation of an enabling international environment that is conducive to development; Also recognizes the enormity and the multidimensional nature of the 7. world financial and economic crisis, which caused a sharp deterioration of the debt ratios in several developing countries, stresses the need to continue to assist developing countries in avoiding a build-up of unsustainable debt so as to reduce the risk of relapsing into another debt crisis, notes in this regard the additional resources made available during and since the crisis through the International Monetary Fund and the multilateral development banks, and calls for the continued provision of concessional and grant-based financing to low-income countries to enable them to respond to the consequences of the crisis; Further recognizes the roles of the United Nations and the international 8. financial institutions in accordance with their respective mandates, and encourages them to continue to support global efforts towards sustained, inclusive and equitable growth, sustainable development and the external debt sustainability of developing countries, including through continued monitoring of global financial flows and their implications in this regard; Emphasizes the need for coordinated policies aimed at fostering debt 9. financing, debt relief and debt restructuring, recalls in this regard the improvement of the lending framework of the International Monetary Fund through, inter alia, streamlined conditions and the creation of more flexible instruments, such as a precautionary and liquidity line, while noting that new and ongoing programmes should not contain unwarranted procyclical conditionalities, and urges the multilateral development banks to continue to move forward on flexible, concessional, fast-disbursing and front-loaded assistance that will substantially and 4/8