IMF Seminar: Averting a COVID-19 Debt Trap

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The world avoided a systemic debt crisis amid the pandemic. Tackling debt vulnerabilities now is critical to prevent divergent recoveries. This panel explores ways to contain debt risks through better debt architecture and transparency and how global cooperation can help.

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Moderator

Martin Wolf

Chief Economics Commentator at the Financial Times

 

Martin Wolf is chief economics commentator at the Financial Times, London. He was awarded the CBE (Commander of the British Empire) in 2000 “for services to financial journalism”. Mr Wolf is an honorary fellow of Nuffield College, Oxford, honorary fellow of Corpus Christi College, Oxford University, an honorary fellow of the Oxford Institute for Economic Policy (Oxonia) and an honorary professor at the University of Nottingham. He has been a forum fellow at the annual meeting of the World Economic Forum in Davos since 1999. He was made a Doctor of Letters, honoris causa, by Nottingham University in July 2006. He was made a Doctor of Science (Economics) of London University, honoris causa, by the London School of Economics in December 2006. His most recent publications are Why Globalization Works and Fixing Global Finance.

Speakers

Kristalina Georgieva

Managing Director, IMF

 

Kristalina Georgieva is the Managing Director of the International Monetary Fund (IMF). She is the first person from an emerging market economy to lead the IMF since its inception in 1944. Before joining the Fund, Ms. Georgieva was Chief Executive Officer of the World Bank and also served as Interim President for a time. Previously, she served at the European Commission as Vice President for Budget and Human Resources – and as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response. She was named “European of the Year” and “Commissioner of the Year” by European Voice for her leadership in the European Union’s humanitarian response to crises.

Mohamed El-Erian

President of Queens’ College, Cambridge University

 

Mohamed A. El-Erian is the President of Queens’ College, Cambridge, also serving as Chief Economic Advisor at Allianz, Chair of Gramercy Fund Management and the Rene M. Kern Professor of Practice at The Wharton School. He formerly served as chief executive and co-chief investment officer of PIMCO (2007-14). A columnist for Bloomberg Opinion and the Financial Times, he is a member of the boards of Barclays, UnderArmour and several non-profits. From December 2012 to January 2017, Dr. El-Erian chaired President Obama’s Global Development Council. Prior to PIMCO, he was an international civil servant at the IMF in Washington DC for 15 years and, for two years, president and CEO of Harvard Management Company, the entity that manages Harvard’s endowment.

He was named to Foreign Policy’s list of “Top 100 Global Thinkers” for four years in a row and has published widely on international economic and finance topics. His 2008 book, "When Markets Collide," was a New York Times and Wall Street Journal bestseller, won the Financial Times/Goldman Sachs Business Book of the Year and was named a book of the year by The Economist and one of the best business books of all time by the Independent (UK). His 2016 book, "The Only Game in Town: Central Banks, Instability and Avoiding the Next Collapse," was also a New York Times bestseller, was listed by Inc.as one of the "25 of the Most Inspiring Books Everyone Should Read."

He holds a master's degree and doctorate in economics from Oxford University and received his undergraduate degree in Economics from Cambridge University.

Vera Songwe

United Nations Under Secretary-General and Executive Secretary of the Economic Commission for Africa

 

Vera Songwe is the Under-Secretary-General of the United Nations and Executive Secretary of the Economic Commission for Africa (ECA). Upon her appointment, she became the first woman to lead the institution in its 60-year history. 

As Executive Secretary, Songwe’s reforms have focused on “ideas for a prosperous Africa”, and have brought to the fore critical issues of macroeconomic stability, development finance, private sector growth, poverty and inequality, the digital transformation, trade and competitiveness.

She was listed as one of Africa’s 50 most powerful women by Forbes in 2020 and named as one of the ‘100 Most Influential Africans’ by Jeune Afrique in 2019. In 2017, New African Magazine listed her as one of the ‘100 Most Influential Africans’ and the FT named her one of the ’25 African to watch’ in 2015. Songwe is acknowledged for her long-standing track record of providing policy advice and her wealth of experience in delivering development results for Africa. She has written extensively on development and economic issues including on debt, infrastructure development, fiscal and governance issues. She is well published and contributes to the development debate across a broad spectrum of platforms including in the Financial Times.

Prior to ECA, she held a number of senior leadership roles with the International Finance Corporation and World Bank.

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