MILAN (Reuters) -Unsustainable debt levels among the world’s poorest countries pose a risk to economic development and social stability and require innovative solutions, Italy’s central bank governor Fabio Panetta said on Wednesday.

Speaking at a conference in Rome, Panetta said schemes such as debt‑for‑development swaps could channel resources into education, health and climate policies, and action could no longer be delayed.

“Failure to act will leave 1.8 billion people behind, with consequences for global stability and justice,” Panetta said, noting that low-income countries facing unsustainable levels of public debt are home to nearly one quarter of the global population.

Progress in improving living standards in developing countries has stalled, he said, with the number of people l

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