The OMFIF Podcast

With Asia warming at twice the global average, the transition to net zero makes both social and economic sense for the region. Executive Director of the External Department at the Hong Kong Monetary Authority, Kenneth Hui, joins OMFIF's Editorial Director, Sarah Moloney, to discuss the HKMA’s approach to channelling capital to the sectors and regions that need it most. Speaking in the wake of the super typhoon Ragasa and Hong Kong Green Week, they explore the shift in conversations from the ‘why’ to the ‘how’, the importance of adaptation and resilience measures as well as the September 2025 update to the Hong Kong Taxonomy for Sustainable Finance.

National financial infrastructure is undergoing perhaps its most rapid period of change in a generation. The needs and expectations of consumers and businesses are evolving to meet a new digital age, and payments systems must evolve to keep up. Among the key developments are increasing real-time payments, growing cross-border flows and the emergence of crypto-assets and stablecoins.   Frank Chen Lu, Solution Architect, Digital Finance BU at Huawei, joins Lewis McLellan, head of content at OMFIF's Digital Monetary Institute, to discuss these new dynamics and the policy response from the official sector.

Around the world, we’re seeing renewed attention to public debt and fiscal tightening, particularly as debt levels continue to rise in advanced economies. Governments face difficult trade-offs: cut spending on services, delay infrastructure investment or raise taxes.    Mauricio Zelaya, partner and national economics leader at EY Canada, and Marie Diron, managing director of sovereign risk at Moody’s Ratings, join Andrea Correa, senior economist at OMFIF, to talk about the relationship between fiscal management, fiscal capacity and the link between debt and public investment. They discuss how governments are balancing fiscal consolidation with essential investments, how borrowed funds can be used effectively to generate productive outcomes and what reforms enable governments to design fiscal strategies that are both responsible in the short term and sustainable over the long term.

Max Castelli, head of strategy for sovereign institutions at UBS Asset Management, shares insights on the future of the U.S. dollar in the global financial system. He discusses the dollar's resilience amid challenges, the rise of gold as a crucial reserve asset, and the implications of digital currencies. The conversation highlights concerns from central banks, the geopolitical dynamics affecting currency trust, and the importance of the Federal Reserve's credibility in maintaining the dollar's status. Will any challengers emerge to truly rival the dollar? Tune in to find out!

Dean Yates, a public sector debt expert at EY, and Rainer Kattel, a governance specialist at UCL, dive into the pressing challenges of public investment in today's fiscal climate. They discuss strategies for optimizing investments to maximize social impact while maintaining fiscal sustainability. The conversation highlights the role of innovative technologies in enhancing governance, with practical examples of digital transformations that improve transparency and decision-making. It's a thought-provoking exploration of how governments can better allocate resources for the common good.

Richard Manley, chief sustainability officer at Canada Pension Plan Investment Board, joins Yara Aziz, senior economist at OMFIF, to discuss the key findings from a jointly published report, ‘Investing in a changing world: How public funds are addressing climate-related physical risks’. They explore the challenges public funds face in managing physical risk and where they see opportunities to build resilience.

In a thought-provoking discussion, Ellie Groves, Head of Strategy at State Street Investment Management, delves into the future of the dollar amid rising doubts about its supremacy. She explores de-dollarisation trends and potential rival currencies, highlighting the impact of U.S. economic policies. The conversation also touches on central bank independence and how political dynamics can shape monetary policy. Investment strategies are reevaluated, with gold and private markets emerging as significant players in the evolving financial landscape.

Although it frequently flies under the radar, ensuring central bank digital currencies are able to be used at point-of-sale is vital to their successful adoption.   Lars Hupel, chief evangelist for CBDC at Giesecke+Devrient, joins Lewis McLellan, head of content at OMFIF's Digital Monetary Institute, to discuss integrating CBDCs at point-of-sale, the strategic and economic benefits it will bring and the appropriate incentive structures to encourage it.   You can find more information in a paper authored by Lars Hupel, which unveils the world of CBDC wallets and their various forms. It illustrates different methods to initiate payments and crafts a conceptual model for point-of-sale transactions, designed with the specific features of retail CBDCs in mind.

Max Castelli, Head of Strategy for Sovereign Institutions at UBS Asset Management, discusses the implications of US policy changes following Liberation Day. He highlights the evolving dynamics of the U.S. dollar and its safe haven status amid market volatility. The conversation shifts to the increasing importance of gold as a safe-haven asset in uncertain times, particularly for central banks diversifying portfolios. Castelli also explores the challenges Europe faces in enhancing its global currency influence and how technology affects reserve management.

Zain Saidin, CEO of Tassat and expert in private blockchain solutions for finance, shares insights on the significance of privacy in capital markets. He discusses the delicate balance between transparency and confidentiality in trading, specifically how private blockchains cater to trusted counterparties. The conversation also delves into the potential of tokenizing real-world assets, the transformative impact of stablecoins on treasury management, and the innovative trends shaping the future of digital asset settlements.