The OMFIF Podcast

Stablecoins are dominating the headlines and policy-makers are responding rapidly. The instruments, though once primarily used as a trading pair for crypto-assets, are rapidly gaining a foothold in cross-border payments where their speed and low cost make them an attractive alternative in some corridors. Eyes are also on their potential adoption for wholesale settlement.    Thibault Pelé, head of product for digital currency at Worldline, joins Lewis McLellan, head of content at OMFIF's Digital Monetary Institute, to discuss the evolving uses of stablecoins and the promise this instrument shows in reshaping money.    

Join Andrew Kleine, a managing director at EY with expertise in outcome-based budgeting, and Adam Chepenik, a government and public sector principal at EY, as they navigate the challenges governments face in delivering public services with limited resources. They discuss the shift to outcome-based budgeting, making fiscal decisions relatable for citizens, and essential strategies for managing fiscal crises. Andrew and Adam emphasize innovative solutions like AI and long-term planning to enhance financial resilience. Tune in for a deep dive into more sustainable public financial management!

Zha Wenting, a Senior Digital Transformation Specialist and Director of On-chain Finance at Huawei, dives into the world of on-chain cash. She explains the impact of CBDCs, stablecoins, and tokenized deposits on business and finance. Wenting discusses the potential for private stablecoins to facilitate wholesale transactions and outlines the necessary infrastructure for mass adoption. She also highlights new commercial models made possible by on-chain cash, showcasing Huawei's pivotal role in shaping this digital finance landscape.

David Marsh, Chairman of OMFIF and author, dives deep into Europe’s precarious geopolitical landscape. He examines Germany's energy blunders with Russia and the evolution of Franco-German relations, highlighting rising tensions and electoral shifts. Marsh critiques the ECB's dual role of promoting unity and sowing division, while outlining Europe’s six structural challenges. He suggests that Europe must embrace a project-based approach to cooperation and reflects on the continent’s future resilience through potential US partnerships.

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.