The United Nations has opened its Fourth International Conference on Financing for Development in Seville, drawing delegations from more than 100 countries to confront what officials describe as a mounting and "silent" sovereign-debt crisis across the Global South. Delegates adopted the Seville Agreement and unveiled a Borrowers’ Forum that will allow debt-distressed nations to coordinate strategies, receive legal and technical support, and negotiate collectively with creditors. UNCTAD Secretary-General Rebeca Grynspan warned that 3.4 billion people now live in countries spending more on interest payments than on health or education. Spain, Canada, France and the United Kingdom, together with multilateral lenders including the Inter-American Development Bank, European Investment Bank, African Development Bank and Asian Development Bank, launched the Debt Suspension Clause Alliance. The effort aims to insert automatic repayment-pause clauses into new public and commercial loans so that countries struck by major climate, health or humanitarian shocks can redirect funds to emergency relief and reconstruction. Spain further pledged €315 million for a Global Health Action Initiative covering 2025-27 and reiterated its plan to raise official development assistance to 0.7 % of GDP by 2030. UN Secretary-General António Guterres told the gathering that the world must mobilise about US$4 trillion annually to meet the 2030 Sustainable Development Goals, calling the current debt regime "unsustainable and unfair." Civil-society groups criticised the Seville outcome as insufficient and the United States did not attend, yet organisers contend that the Borrowers’ Forum and the debt-suspension alliance are concrete steps toward overhauling a system that now imposes roughly US$1.4 trillion in annual debt-service costs on developing economies.