In an era of rising debt risks and uncertainty, how can transparency in Debt Sustainability Analyses (DSAs) by the IMF and World Bank drive more trust and better policies? A new study by Gail Hurley examines the transparency of DSAs across three key pillars: public disclosure, data and methodology openness, and engagement processes. Despite recent improvements, Hurley finds that qualitative aspects of transparency are lacking, with differences in disclosure regimes for low-income and market-access countries and limited access to information during debt distress. The paper emphasizes the importance of improved DSA transparency for driving progress, building trust, and informing better policies. It offers recommendations for enhancing transparency and calls for wider efforts across the borrowing cycle, including the production of DSAs by independent entities to alleviate concerns about impartiality.