Episode 8. Sovereign debt and financing for development

According to the International Monetary Fund, global debt increased from 229% of GDP in 2019 to 237% at the end of 2023 due to the pandemic, energy and food price spikes, and interest rates hikes by central banks in advanced countries. In Africa, the debt burden has become particularly severe. Half of African nations are now spending more on interest payments alone than on their public health budgets. This situation is unsustainable and disproportionally affects poorer countries.

In this episode of DebtTalks, Paola Subacchi and Jean-Pierre Landau discuss the constraints imposed by rising debt levels and the policy trade-offs among pressing needs such as poverty relief and climate action.

Hosts & Guests:
- Paola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po. Previously she was at Queen Mary University of London, where she contributed to set up the Queen Mary Global Policy Institute, and at Chatham House (The Royal Institute of International Affairs) where she led the international economics research department.
- Jean-Pierre Landau, professor at Sciences Po, is former Deputy Governor of Banque de France.  

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