Improved macroeconomic policies and public debt management helped many developing countries avoid sovereign debt distress during the recent global economic crisis. Now that the most acute phase of the crisis has passed, policy-makers are taking stock of the lessons learnt, reevaluating the landscape for debt management in the post-crisis environment, and ensuring that gains made by developing countries are sustained. Against this backdrop, the second Debt Management Facility (DMF) Stakeholoders’ Forum took place in Bern, Switzerland on June 8-9, 2011 on the occasion of the 20th anniversary of the Swiss debt relief program. This note summarizes the discussions of the Forum on the lessons of debt relief and emerging challenges faced by low and middle income countries with respect to debt management, going forward.