Public debt vulnerabilities in developing countries have been rising in recent years. Public debt in Emerging Markets has reached levels not seen since the 1980s, driven mainly be a few EMs. Similarly, share of low income developing countries, covered under the joint Bank-Fund Debt Sustainability Framework, that are classified at high risk of external debt distress or in debt distress has doubled since 2013 to about 40 percent. Heightened vulnerabilities reflect not only higher public debt levels, but also increased debt portfolio risks resulting from a shift in the debt composition. The presentation will provide an overview of recent trends related to public debt and present the approach taken by the World Bank and the IMF to help countries contain public debt vulnerabilities.