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  • Debt crises and multilateral solutions
    2025/10/09

    In this episode, reflecting on the past five years – marked by crises that have left many countries struggling to manage their debt – Paola Subacchi and Ceyla Pazarbasioglu discuss multilateral policy initiatives such as the Debt Service Suspension Initiative (DSSI), the Common Framework and the Global Sovereign Debt Roundtable. They also examine the role of the International Monetary Fund as the lender of last resort.


    Hosts & Guest


    Paola 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.


    Ceyla Pazarbasioglu is the Director of the Strategy, Policy, and Review Department (SPR) at the IMF, serving in this role since 2020. Through this role, she has launched a variety of programmes including the Debt Service Suspension Initiative (DSSI) and the Global Sovereign Debt Roundtable, as well as playing a key role in operationalizing the G-20 Common Framework for Debt Treatments.


    Prior to serving as the SPR Director, Ceyla Pazarbasioglu served as the Vice President for Equitable Growth, Finance, and Institutions at the World Bank Group from 2015 to 2020, where she managed a portfolio of $30 billion in operational and policy work and advisory engagements. She also served in a variety of different positions with the IMF from 1992-1998 and 2003-2015, including as Deputy Director of the Monetary and Capital Markets Department, Assistant Director in the European Department, and Mission Chief for Ukraine. Earlier in her career, she helped Türkiye’s government contain and resolve the 2001 economic crisis — first as a member of the government’s crisis management team, then as the Vice President of the Banking Regulation and Supervision Agency.



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    25 分
  • Episode 16. Sustainable Development Goals: where do we go from here ?
    2025/07/08

    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 & Guests


    Paola 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.


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    47 分
  • Episode 15. Lessons learned: a practitioner’s experience
    2025/06/03

    In this episode of DebtTalks, Paola Subacchi hosts Thomas Lambert for an in-depth conversation on recent cases of sovereign debt restructuring and how they have been managed. The discussion explores the complexities of bond markets, coordination challenges among creditors, the role of multilateral institutions in addressing debt distress, and the urgent need for affordable sources of capital.



    Hosts & Guests


    Paola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po.


    Thomas Lambert is Managing Director of Lazard, Sovereign Advisory Group.


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    43 分
  • Episode 14. Bridging development gaps: the role of public development banks ahead of the Seville Summit
    2025/05/20

    How do public development banks work and how can they help mobilise financial
    resources to deliver global public goods? What can we expect from the 4th
    International Conference on Financing for Development, set to take place in Seville
    from 30 June to 3 July 2025? Paola Subacchi speaks with Nicolas Picchiottino about
    harnessing finance to close bridge development gaps both between and within
    countries.

    Hosts and Guests
    Paola Subacchi is Professor of Political Economy, University of Bologna, and the
    Incoming Chair in Sovereign Debt and Finance at Sciences Po.
    Nicolas Picchiottino is the Secretary General of IDFC and the Head of Public
    Development Banks at AFD.


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    42 分
  • Episode 13. Financing growth in a challenging debt market environment
    2025/05/06

    The OECD Global Report 2025 highlights the resuming of a long-term trend of more
    than two decades of rising debt levels, accompanied by growing interest payment
    burdens in many countries. In this episode of DebtTalk, Paola Subacchi and Fatos
    Koc explore policy options – from fiscal restraint and structural reforms to stimulate
    growth in advanced economies, to strategies for developing local capital markets in
    emerging and developing countries.
    Hosts and Guests
    Paola Subacchi is Professor of Political Economy, University of Bologna, and the
    Incoming Chair in Sovereign Debt and Finance at Sciences Po.
    Fatos Koc is the head of Financial Markets Unit at the OECD.


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    44 分
  • Episode 12. Rating the future: debt, growth and Europe’s economic path
    2025/04/15

    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 & Guests

    Paola 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.


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    40 分
  • Episode 11. Public debt is public: shifting the norm to transparency
    2025/04/08

    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 & Guests

    Paola 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.


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    40 分
  • Episode 10. Leveraging debt for a sustainable future
    2025/03/18

    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.


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    40 分