IMF Seminar: Debt Restructuring: Why Too Little and Too Late

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DATE: October 11, 2022

DAY: Tuesday

2:00 PM - 2:45 PM

LOCATION: IMF HQ1 Atrium (HQ1-1-700)

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Government debt levels are climbing in emerging and developing economies. With rising interest rates, the strengthening of the US dollar, and weaker global growth, the risks of a systemic sovereign debt crisis are rising. The discussion draws on options for improving the functioning of debt restructuring mechanisms from a private sector perspective (a separate seminar looks at policy options and the G20 Common Framework).

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IMF Seminar: Debt Restructuring: Why Too Little and Too Late


Moderator: Martin Wolf

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.

Panelist: Gita Gopinath

Gita Gopinath is the First Deputy Managing Director of the International Monetary Fund (IMF) as of January 21, 2022. In that role she oversees the work of staff, represents the Fund at multilateral forums, maintains high-level contacts with member governments and Board members, the media, and other institutions, leads the Fund’s work on surveillance and related policies, and oversees research and flagship publications.  

Full bio

Panelist: Lee Buchheit

Lee C. Buchheit is Honorary Professor at Edinburgh Law School at the University of Edinburgh. Previously he was adjunct Professor, Juris Doctor degree Program at the University of Miami. Buchheit is the author of two books in the field of international law and more than 40 articles on professional matters. He served as a Visiting Professor at Chuo University in Japan (1997-98), as a Lecturer on Law at the Harvard Law School (2000), as a Visiting Lecturer in Law at the Yale Law School (2005), as an Adjunct Professor of Law at Duke University Law School (2006-07), and as an Adjunct Professor of Law at New York University Law School (2008). Buchheit is a Visiting Professorial Fellow in the Centre for Commercial Law Studies at the University of London.

Panelist: Elena Duggar

Chair of Moody’s Macroeconomic Board and managing director of Credit Strategy & Research

Panelist: Ana Gelpern

Anna Gelpern is a law professor at Georgetown and a non-resident fellow at the Peterson Institute. She has published research on government debt, contracts, and regulation of financial institutions and markets. She has co-authored a law textbook on International Finance, and has contributed to international initiatives on financial reform and government debt. She co-directs the Sovereign Debt Forum, a collaboration among Georgetown Law’s Institute of International Economic Law and academic institutions in the United States and Europe, dedicated to cutting edge research and capacity building in sovereign debt management.

Panelist: Axel Weber

Axel A. Weber is European Chairman of the Trilateral Commission and President of the Center for Financial Studies at Goethe University Frankfurt/Main. He is also Chairman of the Institute of International Finance and a member of the Group of Thirty. He was Chairman of the Board of Directors of UBS Group AG (2012-2022) . He served as President of the German Bundesbank (2004-2011), during which time he also served as a member of the Governing Council of the European Central Bank, a member of the Board of Directors of the Bank for International Settlements, German governor of the International Monetary Fund and as a member of the G7 and G20 Ministers and Governors. He was a visiting professor at the University of Chicago Booth School of Business and Professor of Economics at the University of Cologne, Goethe University of Frankfurt and University of Bonn. He also served as a member of the German Council of Economic Experts.