DebtTalks

In this episode, Paola sits down with Nicole Kearse to explore the intricacies of debt management. Drawing on Nicole’s extensive experience at the African Legal Support Facility (ALSF), they discuss debt sustainability, capacity building, and the strategies to help countries prevent debt crises.Hosts & GuestsPaola Subacchi is Professor and Chair in Sovereign Debt and Finance at Sciences Po, and Professor of Political Economy of Europe at the University of Bologna. She is also a partner at Essential Economics, a London-based consultancy that advises governments, international organisations, and private companies. From 2019 to 2024 she was at Queen Mary University of London, where she helped establish the Queen Mary Global Policy Institute. Previously, she directed the International Economics Research Department at Chatham House (The Royal Institute of International Affairs) in London.Nicole Kearse is the head of sovereign finance for the ALSF since 2022 and previously served as the organization’s senior legal counsel. Through this role, she uses her expertise on the African region and emerging markets to aid the organization in providing legal advice and technical assistance to countries in the negotiation of complex commercial transactions, creditor litigation, and other sovereign transactions.Prior to servicing in her roles at the ALSF, Nicole Kearse co-founded the Krescent Consulting firm, providing strategic consulting and organizational and IT consulting services to law firms, SMEs, not-for profits, and African start-upsProduction Paola SubacchiCoordination Nathalie CorvéeMusique Nils BertinelliHosted by Ausha. See ausha.co/privacy-policy for more information.

In this discussion, Ceyla Pazarbasioglu, Director at the IMF, shares her insights on navigating global debt crises. She details the Debt Service Suspension Initiative, designed to support low-income countries, and discusses the G20 Common Framework aimed at coordinating creditors in reshaping debt approaches. Ceyla also emphasizes the importance of transparency in restructuring and outlines the IMF's three-pillar strategy to promote growth. The conversation raises thought-provoking questions about the IMF's role as a lender of last resort in today's complex financial landscape.

In this episode Paola Subacchi and Thomas Melonio examine the future of the Sustainable Development Goals (SDGs) and the likelihood of achieving them by 2030. They discuss how to navigate trade-offs and shape a realistic transition path – one that may be more manageable in the long term, but more complex in the short term. The conversation also highlights the critical need to ensure that developing countries are not left behind in accessing the opportunities provided by AI. Hosts & GuestsPaola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po. Thomas Melonio is Chief Economist at Agence Francaise de Development.Hosted by Ausha. See ausha.co/privacy-policy for more information.

Join Thomas Lambert, Managing Director at Lazard's Sovereign Advisory Group, as he delves into the world of sovereign debt restructuring. Drawing from his extensive experience, Thomas shares key insights from notable cases like Zambia and Sri Lanka. He discusses the challenges of coordinating among creditors and the essential role of multilateral institutions. The conversation also highlights the complexities of investing in high-risk markets and the vital link between interest rates and economic growth, providing valuable lessons for policymakers in navigating financial distress.

Nicolas Picchiottino, Secretary General of IDFC and Head of Public Development Banks at AFD, sheds light on how public development banks are pivotal in bridging development gaps and financing sustainable initiatives. He discusses the challenges of climate finance, especially after the U.S. withdrew from the Paris Agreement, and emphasizes the importance of mobilizing resources through collective efforts. Picchiottino also highlights initiatives promoting gender finance, showcasing the positive impact of women-led businesses on financial stability.

Fatos Koc, head of the Financial Markets Unit at the OECD, joins to discuss the troubling rise in global debt, which soared by $25 trillion in 2024. He highlights the impact of rising interest rates on debt sustainability, especially for emerging markets, and contrasts the capabilities of advanced economies. The conversation also delves into the significance of green bonds and sustainable investments, addressing the need for structured capital markets to foster resilience and respond to urgent investor demands.

In Episode 12 of DebtTalks, Paola Subacchi and Sarah Carlson discuss Europe’s debt outlook and the balance between economic growth and debt management. Before diving into these topics, they explore the role of credit rating agencies in the international financial system. The episode offers insights into the methodologies behind sovereign debt ratings, the challenges that these agencies face in today’s complex economic environment, and how ratings can influence both investor confidence and policy decisions. Hosts & GuestsPaola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po. Sarah Carlson is Senior Vice President at Moody's Ratings, lead analyst for several European countries and a spokesperson on global issues and European matters. Hosted by Ausha. See ausha.co/privacy-policy for more information.

What does transparency mean when it comes to debt contracts? What should be disclosed and what should remain confidential? And how can we highlight good practice? In this episode of DebtTalks, Anna Gelpern speaks with Paola Subacchi about the new initiative Public Debt is Public which Anna is leading in collaboration with Queen Mary University of London. The project focuses on countries with limited resources and aims to create a platform where sovereign debt documentation is publicly available, searchable, and easy to access.Hosts & GuestsPaola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po. Anna Gelpern is Scott K. Ginsburg Professor of Law and International Finance at Georgetown Law and non-resident senior fellow at Peterson Institute for International Economics. Hosted by Ausha. See ausha.co/privacy-policy for more information.

As countries face pressing environmental and social challenges, can debt be leveraged as a tool to finance sustainable growth? In Episode 10 of DebtTalks, Paola Subacchi and Thierry Watrin explore this crucial question, delving into the complex relationship between debt and sustainable development. The discussion covers how sovereign debt strategies, responsible lending, and innovative financial mechanisms can help address climate change, poverty, and inequality.Hosts & Guests:Paola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po.Thierry Watrin, a former advisor to Rwanda’s Minister of Finance, currently leads the Sustainable Debt Coalition, a UN initiative. He teaches a course on climate diplomacy at Sciences Po.Hosted by Ausha. See ausha.co/privacy-policy for more information.

It’s Davos season, and the 47 President of the United States has just been inaugurated. The road ahead is uncertain, with only informed speculation to guide expectations. Against this backdrop, in this episode of DebtTalks – recorded on January 29, 2025 –Paola Subacchi and Isabelle Mateos y Lago examine the relationship between monetary policy and sovereign debt. They discuss how central banks influence government borrowing costs and debt sustainability, particularly as policymakers navigate inflation and economic uncertainty. Changes in interest rates can either ease fiscal pressures or create new challenges for heavily indebted economies. The conversation delves into the current policy landscape, the impact of tightening or loosening monetary conditions, and the potential consequences for bond markets and public finances.Hosts & Guests:- Paola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po.- Isabelle Mateos y Lago is Group Chief Economist at BNP Paribas.  Hosted by Ausha. See ausha.co/privacy-policy for more information.