DebtTalks

How does the debt market fare over a very long period? Paola Subacchi is joined by Josefin Meyer to look at sovereign bonds over 200 years that stretch after the battle of Waterloo (1815) and 2016. Research shows that over this period real returns averaged more than 6 per cent annually – after taking into account wars, financial crises and default episodes.Guest: Josefin Meyer is Head of International Macroeconomics Research Group of the Macroeconomics Department at Deutsches Institut Für Wirtschaftsforschung (DIW Berlin) and Research Fellow at Kiel Institute for The World Economy.Hosted by Ausha. See ausha.co/privacy-policy for more information.

China has become the world’s largest bilateral creditor to low- and middle-income countries.  Paola Subacchi, Deborah Brautigam and Yufan Huang explore the changing dynamics of China’s lending and the implications for the international financial architecture. Guests: Deborah Brautigam is Director of the SAIS China Africa Research Initiative (CARI) and Bernard L. Schwartz Professor of International Political Economy EmeritaJohns Hopkins School of Advanced International Studies (SAIS).Yufan Huang is a Pre-Doctoral Fellow with the China-Africa Research Initiative, and a PhD candidate at Cornell University.Hosted by Ausha. See ausha.co/privacy-policy for more information.

In the latest episode of DebtTalks, Paola Subacchi and Jérôme Sgard dive into the debt crisis of the 1980s that hit many developing countries between 1982 and 1989. The 1989 Brady initiative put an end to the crisis and put the International Monetary Fund at the helm of the debt restructuring architecture. Guest: Jérôme Sgard is Professor of Political Economy at Sciences Po. He is the author of The Debt Crisis of the 1980s: Law and Political Economy (2023).Hosted by Ausha. See ausha.co/privacy-policy for more information.

Good coordination of creditors and debtors is at the core of effective debt treatments.  The Paris Club, that brings together official creditors, provides coordinated financing for countries that experience debt distress such as debt relief by postponement, reduction in debt service obligations, concessional rescheduling. Listen as Paola Subacchi, William Roos and Philippe Guyonnet-Dupérat discuss challenges posed by a more heterogenous creditor group and institutional innovations like the Common Framework for Debt Treatments.Guests: William Roos is Assistant Secretary for Multilateral, Development and Trade Affairs at the French Treasury. He is co-chair of the Paris Club and co-chaired in that capacity all common framework official creditor committees.Philippe Guyonnet-Dupérat is Secretary general of the Paris Club and head of international debt at the French Treasury.Hosted by Ausha. See ausha.co/privacy-policy for more information.

In 2001 Argentina defaulted on $100 billion in bonds. The subsequent debt restructuring and a decade of litigation with holdout creditors show the complex interplay between financial markets, governments, the IMF, the press, and the courts. Join Paola Subacchi and Gregory Makoff as they discuss the economic, legal, political, and institutional questions that arise when a country defaults on its debt.Guest: Gregory Makoff is a Senior Fellow at the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy Schooland an expert on sovereign debt. He is the author of Default: The Landmark Court Battle over Argentina's $100 Billion Debt Restructuring (2024).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. Join Paola and Yannis Manuelides for the first episode of this series. In 2010 Greece’s debt was downgraded and this marked the beginning of a long debt crisis that brought Greece near collapse and undermined the financial stability of the Euro Area. Guest: Yannis Manuelides is a London-based finance lawyer and consultant.  He was a partner at Allen& Overy’s London office for over 23 years where he headed the firm’s sovereign debt practice. Yannis led the legal team which acted for the Steering Committee of Private Creditors of Greece on Greece's EUR206bn debt restructuring (PSI).  🔗 Chair in Sovereign Debt and finance website LinkHosted by Ausha. See ausha.co/privacy-policy for more information.