Debt Vulnerabilities and Development Needs in Low-Income Countries
IMF SEMINAR EVENT
DATE: April 12, 2019
DAY: Friday
10:45 AM - 12:00 PM
LOCATION: IMF HQ1, Meetings Halls A&B (HQ1-3-430 A&B)
Overview
Rapid increases in public debt have emerged recently in low-income countries while development needs remain large. The drivers of rising debt vary greatly across countries: for some, it has been driven by scaling-up of public investment; for others, adverse commodity price shocks are to blame, while a third group of countries have followed still imprudent fiscal policies. Flat—if not falling—official development assistance and an increasingly diverse group of multilateral, bilateral, and private lenders have accompanied the debt escalation. This seminar panel will discuss (1) various debt drivers across countries; (2) financing needs for development; and (3) how national authorities, multilateral and bilateral partners, and private creditors can strike the right balance between development spending and containing debt vulnerability.Join the conversation via #Development4All
Debt Vulnerabilities and Development Needs in Low-Income Countries
Panelists
Moderator: Nancy Kacungira
Ms. Nancy Kacungira is the host of “In Business Africa” on BBC World News, a weekly program looking at the trends shaping Africa’s economic future. A multi-award-winning journalist from Uganda, Nancy has presented on some of the world’s biggest platforms including the World Economic Forum, TEDx, and a Presidential Debate as a speaker and moderator. Previously an entrepreneur, Nancy cofounded the Blu Flamingo digital media agency, which now operates in four African countries. She has worked as a radio and television presenter in East Africa for more than 10 years.
Opening Remarks: Mitsuhiro Furusawa
Panelist: Mahamat Abakar Allali
Panelist: Daniel Hanna
Mr. Daniel Hanna has nearly two decades of banking experience in emerging market economies providing advice to governments and state-owned enterprises development finance institutions. Daniel has helped emerging and frontier market sovereigns raise billions of dollars for infrastructure and social development. He, and his team, have led several innovative financing transactions, particularly in the use of “blended finance” and working with development finance institutions to mobilize more than $5 billion in commercial capital toward the UN Sustainable Development Goals in developing countries. Daniel and his team have also supported more than 2.5 million of the most vulnerable households through microfinance. He holds a master’s degree in Business Administration from London Business School, a Certificat d’Etudes Européen from Science Po Strasbourg, and a bachelor’s degree in Economics and Politics from Exeter University.
Panelist: Margaret Mwanakatwe
Ms. Margaret Mwanakatwe has served as Zambia’s Minister of Finance since February 2018. Before this appointment, she was Minister of Commerce, Trade and Industry. She has also been a Member of Parliament of the Lusaka Central Parliamentary seat since the 2016 general elections. Ms. Mwanakatwe was the Managing Director of Barclays Bank of Ghana Limited until 2009. Prior to that she was the Managing Director of Barclays Bank of Zambia Limited. After Barclays Ghana she joined United Bank for Africa as the Regional CEO for the East and Southern Africa region. She holds a bachelor’s degree in Business Administration and is a Chartered Accountant by Profession.
Panelist: Abdur Rout Talukder
Mr. Abdur Rouf Talukder has been the Secretary of Finance Division, Ministry of Finance since July 17, 2018. He also serves as Director of the Board of Directors of the Central Bank of Bangladesh. He was instrumental in implementing the Medium-Term Budget Framework during 2005–06 and the new Budget and Accounting Classification System during 2017–18. He was key in drafting the 2009 Public Money and Budget Management Act. He also contributed to the introduction of payroll automation for government employees and electronic funds transfer for pensioners. Previously, Mr. Talukder worked in Ministry of Industries, Ministry of Food, and Ministry of Information. He also worked in Bangladesh High Commission, Malaysia as First Secretary. Mr. Talukder holds a master’s degree in Development Management from the University of Birmingham, UK and an MBA from the Institute of Business Administration of the University of Dhaka.
Panelist: Jakob v. Weizsäcker
Mr. Jakob von Weizsäcker was appointed Chief Economist and Director General for Economic and Fiscal Policy and Global Economy at the German Federal Ministry of Finance in early 2019. From 2014 to 2019, he served as Member of the European Parliament for Thuringia in Germany, both as a member of the Committee on Economic and Monetary Affairs and the Parliament's Delegation for the Relations with India. Previously, he worked—among others—at the Ministry for Economic Affairs of Thuringia, the Brussels-based think tank Bruegel, the World Bank, and the Federal Ministry for Economic Affairs. He completed his university studies in France at what is today known as the Paris School of Economics, graduating with a master’s degree in Physics and a diploma of advanced studies in Economics.