Borrow Without Sorrow: Managing Debt in a Volatile Global Economy

Over the course of 2016, global economic weaknesses have persisted and risks have become more pronounced. Growth in advanced economies turned out lower than expected, while among emerging and developing countries economic divergence has become more pronounced. Commodity prices have only partially reversed over the past months, suggesting continuing headwinds for many developing economies.

OVERVIEW
AGENDA
SPEAKERS
MATERIALS
PARTNERS

The event will showcase good performers and their capacity to maintain debt sustainability and free resources for productive investments, under the current volatile global environment. Their example will guide debt managers who need to rethink their current strategy and develop new funding strategies in coordination with fiscal authorities. Achieving sustainable growth will require sound fiscal policy and substantial infrastructure investment, driving debt managers to tap into new funding sources, including international market issuances. The session will serve as a follow-up to the Seventh Debt Management Facility (DMF) Stakeholder's Forum, which was held in Lusaka, Zambia in May 2016.

Jan Walliser

Vice President, Equitable Growth, Finance and Institutions, World Bank Group
His Vice Presidency offers clients a wide set of options to: make their economies more productive, competitive, and attractive for private investment; increase access to finance; manage their fiscal deficits and debt; get new facts on poverty; or grow their public sector management capacity. Previously, Mr. Walliser was the Director of Strategy and Operations in the Bank’s Africa Region where he provided strategic leadership and operational guidance to staff operating. Before joining the Bank, he was an economist at the IMF and a Principal Analyst at the U.S. Congressional Budget Office. Mr. Walliser has published in economic journals on intergenerational aspects of fiscal policy, tax reform, pension reform, and aid effectiveness. He received a Ph.D. in economics from Boston University and a Diplom-Volkswirt from Kiel University, Germany. A German national, he speaks German, English, and French.
Mauricio Cardenas

Minister of Finance and Public Credit, Colombia
Mauricio Cárdenas is the Minister of Finance and Public Credit of Colombia. Previously, he had served as Minister of Mines and Energy in the administration of President Juan Manuel Santos. Before joining the Santos Government, Mr. Cárdenas was a Senior Fellow and Director of the Latin America initiative at the Brookings Institution and Director of Fedesarrollo, Colombia’s most prestigious economic research institute. He also served as Minister of Economic Development, Minister of Transportation and was the Director of the National Planning Department of Colombia, the agency charged with central economic planning of the country. Mr. Cárdenas began his career in the Colombian public sector at age 30, as the General Manager of the Empresa de Energía de Bogotá (the capital´s largest public utility). Cárdenas holds a PhD in Economics from the University of California, Berkley, a Masters and a Bachelor’s degree in Economics from the Universidad de los Andes in Bogotá, where he was also a professor and lead researcher at the Economics Department. In 2015, the international financial magazine Euromoney named him Finance Minister of the Year (2015) for his handling of the Colombian economy through the commodity price crash that affected emerging countries.
Pravin Gordhan

Minister of Finance, Republic of South Africa
Mr Gordhan was the Minister of Finance from May 2009 to May 2014. Prior to resuming the post of Finance Minister in December 2015, he served as Minister of Cooperative Governance and Traditional Affairs from May 2014 to 13 December 2015. In this Ministry he oversaw the functioning of local government institutions and service delivery systems. Before his first tenure as the Minister of Finance, Mr Gordhan was Head of the South Africa Revenue Authority for 10 years, where he oversaw reforms to strengthen and modernize tax and customs administration. Before the years at South African Revenue Services, Mr Gordhan was a Member of Parliament from 1994 to 1998 and the Chairperson of the Constitutional Committee in Parliament from 1996. Other significant positions he has held include Chairperson of the World Customs Organization (WCO) from 2001 until July 2006 and Chairperson of the Forum on Tax Administration (FTA) within the Organization for Economic Cooperation and Development (OECD) from 2008 to 2009. Mr. Gordhan received his Doctorate of Commerce honoris causa from University of South Africa (May 2007), Doctorate of Law honoris causa from the University of Cape Town (June 2007) and DTech in Business Administration from the Free State Central University of Technology (March 2009).
Moritz Kraemer

Global Chief Ratings Officer Sovereigns, Standard and Poor’s
A German national, he joined the company in February 2001, leading the Europe-based sovereign analyst team. Prior to joining S&P Moritz was an Economist with the Inter-American Development Bank in Washington DC, working with governments in Latin America in the design and implementation of economic policy reforms (mainly fiscal reform and decentralization). Mr. Kraemer holds a Ph.D. in Economics from the University of Göttingen (Germany), where he was a researcher and lecturer at the Ibero-America Institute of Economic Research and the Faculty of Economics from 1992 through 1996. He studied Economics, Latin American Studies and Literature in Frankfurt, Southampton and San Diego. Moritz speaks English, German, French and Spanish.
Liliana Rojas Suarez

Senior Fellow, Center for Global Development
Liliana Rojas-Suarez is a senior fellow at the Center for Global Development with expertise on Latin America, financial regulation, Basel II and III and the development impact of global financial flows. She is the co-author or editor of almost a dozen books. Her most recent book is Growing Pains in Latin America: An Economic Growth Framework as Applied to Brazil, Colombia, Costa Rica, Mexico and Peru. She also co-chaired the CGD Working Group on “Policy Principles for Expanding Financial Access”. She is the chair of the Latin American Shadow Financial Regulatory Committee (CLAAF). From March 1998 to October 2000, she served as managing director and chief economist for Latin America at Deutsche Bank. Before joining Deutsche Bank, Rojas-Suarez was the principal advisor in the Office of Chief Economist at the Inter-American Development Bank. Between, 1984-1994 she held various positions at the International Monetary Fund, most recently as deputy chief of the Capital Markets and Financial Studies Division of the Research Department. She has also published or being cited in prestigious newspapers such as the Financial Times, the Wall Street Journal and the Washington Post.
Apisak Tantivorawong

Minister of Finance, Thailand
Mr. Tantivorawong has held numerous key positions in the public and private sectors in Thailand before presuming position of Minister of Finance. He has been the Director of The Siam Commercial Bank Public Company Limited, Vice Chairman Finance Committee, Charoen Pokphand Group Co., Ltd and chairman of the Board of Directors Quality Houses Public Company Limited. Mr. Tantivorawong also served as the Senior Executive Vice President for the Industrial Finance Corporation of Thailand (IFCT), President Bangkok Commercial Asset Management Co. Ltd. Senior Executive Vice President Bangkok Bank of Commerce Public Co., Ltd. President IFCT Finance and Security Public Co.Ltd. He has received many rewards including Best Corporate Leadership Award”, State-owned Enterprises Award 2012 (SOE), Ministry of Finance, Banker of The Year 2007 Award by “The Interest”, monthly financial magazine, Thailand, The 9th Chulalongkorn University Engineer Award (2005) and Banker of The Year 2004 Award by “The Interest”, monthly financial magazine, Thailand.
Francine Lacqua

Anchor, Bloomberg Television
Francine Lacqua is an award-winning, London-based anchor for Bloomberg Television. She anchors the weekday program "The Pulse", delivering deep analysis of the biggest business and finance stories live from Bloomberg Television's London studio, as well as “Bloomberg Surveillance” with Tom Keene, where she provides insight on global markets and the top business stories of the day. She also presents "Leaders with Lacqua," a special series where she sits down with top CEOs, entrepreneurs and public figures. Since joining Bloomberg in 2000, Lacqua has covered the World Economic Forum in Davos, IMF in Washington, G20 meetings, the EU Leaders Summit and OPEC. She has also interviewed finance ministers from South Korea, Russia, France, Mexico, Italy and Greece, as well as moderating televised debates from the World Economic Forum in Davos and the European Economic Governance package. In 2013 Lacqua won 'International TV Personality of the Year' at the AIB Media Awards. She was previously nominated in 2009 and 2010. In 2012, she was part of the Bloomberg team that won the OPEC award for 'Public Interest Reporting'. She has an LLB in English law from King’s College in London and earned her undergraduate degree at the Sorbonne. She is fluent in French and Italian.