DebtTalks

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.

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.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

Welcome to DebtTalks, the podcast of SciencesPo Chair in Sovereign Debt and Finance, hosted by Paola Subacchi. In this episode Paola is joined by Sean Hagan to discuss the role of the International Monetary Fund (IMF) as the lender of last resort and as a “trigger” for debt restructuring.Guest :Sean Hagan, professor at Sciences Po and Georgetown Law, is former general counsel for the International Monetary Fund, non resident fellow at the Peterson Institute for International Economics, and advisor to Rothschild & Co.  Hosted by Ausha. See ausha.co/privacy-policy for more information.