A synthesis study prepared by Kshitiz Dahal, Senior Research Officer, SAWTEE, and Dr. Paras Kharel, Executive Director, SAWTEE, highlights the main insights of these three national studies. The study identifies what lies at the heart of the debt crisis witnessed by Sri Lanka and Pakistan, which offers valuable lessons to countries like Nepal on treading a sustainable path of debt accumulation. Mr. Dahal and Dr. Kharel also co-author the national study on Nepal’s public debt, which provides an assessment of whether Nepal is veering towards a path of unsustainable public debt accumulation, and identifies the key structural drivers of Nepal’s public debt accumulation. In addition, the report also contains national studies on what drove Sri Lanka and Pakistan towards a debt crisis.