In this episode of DebtTalks, Paola Subacchi and Martin Kessler explore what happens when a country begins to face mounting debt pressures. What are the early warning signs, and when does concern turn into crisis? The discussion also delves into the options available to heavily indebted countries – from restructuring to relief – and take a closer look at how the IMF’s Debt Sustainability Analysis shapes decisions along the way.

Hosts & Guests

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.

Martin Kessler is the Executive Director of the Finance for Development Lab. Previously, he worked as an economist in the Development Cooperation Directorate of the OECD, focusing on trends of development finance for developing countries, and debt risks in particular.

Prior to this, Martin worked at the World Bank on development dynamics in East Asia, and held research positions at the Brussels-based economic think-tank Bruegel and the Peterson Institute for International Economics in Washington DC.

Production Paola Subacchi

Coordination Nathalie Corvée

Musique Nils Bertinelli

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

Episode 13 of DebtTalks dives into how Latin America can unlock domestic finance to power - funding major infrastructure while supporting SMEs - to the rise of innovative tools like green and thematic bonds in the Caribbean, the episode explores what’s working across a diverse region.

With debt costs squeezing fiscal space, the conversation highlights the urgent need for cheaper financing. It also underscores the importance of stronger multilateral cooperation - moving beyond siloed approaches - to scale impact and drive sustainable development.

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.

Sebastián Nieto-Parra is an Economist at the OECD Development Centre, where he works on the production of the annual report Latin American Economic Outlook. He also teaches economic policy of emerging markets at Sciences Po, Paris. His research interests include banking regulation, international finance and political economy in emerging countries. In particular, he has been researching the structure of the primary bond market. He has presented a number of his papers in various academia and policy-making oriented conferences. Before joining the OECD, Mr. Nieto-Parra was an Economist for Latin America at Santander Bank, Madrid.

Production Paola Subacchi

Coordination Nathalie Corvée

Musique Nils Bertinelli

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

As the European Union has emerged as a major bond issuer since the Covid-19 pandemic, this episode explores the fast-growing market for sovereign, sub-sovereign and supranational debt. Paola Subacchi and Lawrence Duquesne-Garner trace the EU’s journey as a bond issuer, revealing how crisis-driven financing is turning into a long-term investment strategy.

Hosts & Guests

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.

Lawrence Duquesne-Garner is a Managing Director within Crédit Agricole CIB's Sovereign, Supranational and Agency (SSA) debt capital markets team, which he joined in London in 2014. He is responsible for the public sector bond issuers in Germany, Switzerland, the Nordic region, as well as the European Commission (NextGenerationEU).

Prior to joining Crédit Agricole in 2014, Lawrence held several front office positions within investment banks in Paris, Frankfurt and London. These included positions in public sector debt capital markets as well as Cross-Asset Solutions Sales and Export Finance negotiations.

Production Paola Subacchi

Coordination Nathalie Corvée

Musique Nils Bertinelli

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