"Sovereign debt" refers to the money that a government owes to creditors, often incurred through borrowing to finance public spending. In political discourse, it signifies the complexities of managing national finances while ensuring the country meets its obligations. High levels of sovereign debt can raise concerns about economic stability and the government's ability to fund public services. Debates surrounding sovereign debt often focus on issues of fiscal responsibility, austerity measures, and the implications of defaulting or restructuring debts.