This episode features political scientists Layna Mosley and Peter Rosendorff in conversation with Paola Subacchi about the domestic and international politics that surround sovereign finance. Since politics plays a crucial role in development finance, the discussion focus on how domestic politics affects access to credit, how governments manage and repay debt, and how political considerations influence the operations of multilateral financial institutions. 

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. 

From 2019 to 2024 she was at Queen Mary University of London, where she helped establish the Queen Mary Global Policy Institute. Previously, she directed the International Economics Research Department at Chatham House (The Royal Institute of International Affairs) in London.

Layna Mosley is Professor of Politics and International Affairs at Princeton Affairs, serving as the Interim Director of the Niehaus Center for Globalization and Governance and Associate Chair of the Department of Politics. She also co-founded the Princeton Sovereign Finance Lab. 

Peter Rosendorff is Professor of Politics at New York University where he serves as the Director of the NYU Sovereign Debt Network. He is also the Director of Research at the Princeton Sovereign Finance Lab. Professor Rosendorff is a current member of the editorial team at the International Organization journal and was the previous editor of Economics and Politics. In addition, he currently sits on the editorial board of the American Journal of Political Science and previously for the Journal of Politics and International Interactions.


Production Paola Subacchi

Coordination Nathalie Corvée

Musique Nils Bertinelli

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How can countries in critical debt positions secure the financing they need to invest in critical infrastructure? And when should they rely on grants instead of loans – even at concessional rates? In this episode Paola Subacchi hosts Pablo Saavedra from the World Bank to explore tools such as debt-for-development swaps, designed to lower debt-servicing costs and extend maturities – giving countries more breathing space.

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. 

From 2019 to 2024 she was at Queen Mary University of London, where she helped establish the Queen Mary Global Policy Institute. Previously, she directed the International Economics Research Department at Chatham House (The Royal Institute of International Affairs) in London.

Pablo Saavedra is the Vice President for the Prosperity vertical at the World Bank, working on issues related to economic policy, poverty, finance, institutions, competition, and investment. Prior to serving in this position, he was also the Country Director for Mexico and Practice Manager of the Macroeconomic, Trade, and Investment unit in the Latin America and Caribbean Region at the Bank. 

In these positions, he provides significant technical knowledge and operational experience across regions on topics related to economic growth, macroeconomics and fiscal policy, and finance.

Production Paola Subacchi

Coordination Nathalie Corvée

Musique et Réalisation Nils Bertinelli

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In this episode, Paola sits down with Nicole Kearse to explore the intricacies of debt management. Drawing on Nicole’s extensive experience at the African Legal Support Facility (ALSF), they discuss debt sustainability, capacity building, and the strategies to help countries prevent debt crises.

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. 

From 2019 to 2024 she was at Queen Mary University of London, where she helped establish the Queen Mary Global Policy Institute. Previously, she directed the International Economics Research Department at Chatham House (The Royal Institute of International Affairs) in London.

Nicole Kearse is the head of sovereign finance for the ALSF since 2022 and previously served as the organization’s senior legal counsel. Through this role, she uses her expertise on the African region and emerging markets to aid the organization in providing legal advice and technical assistance to countries in the negotiation of complex commercial transactions, creditor litigation, and other sovereign transactions.

Prior to servicing in her roles at the ALSF, Nicole Kearse co-founded the Krescent Consulting firm, providing strategic consulting and organizational and IT consulting services to law firms, SMEs, not-for profits, and African start-ups

Production Paola Subacchi

Coordination Nathalie Corvée

Musique Nils Bertinelli

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In this episode, reflecting on the past five years – marked by crises that have left many countries struggling to manage their debt – Paola Subacchi and Ceyla Pazarbasioglu discuss multilateral policy initiatives such as the Debt Service Suspension Initiative (DSSI), the Common Framework and the Global Sovereign Debt Roundtable. They also examine the role of the International Monetary Fund as the lender of last resort.

Hosts & Guest

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.

Ceyla Pazarbasioglu is the Director of the Strategy, Policy, and Review Department (SPR) at the IMF, serving in this role since 2020. Through this role, she has launched a variety of programmes including the Debt Service Suspension Initiative (DSSI) and the Global Sovereign Debt Roundtable, as well as playing a key role in operationalizing the G-20 Common Framework for Debt Treatments.

Prior to serving as the SPR Director, Ceyla Pazarbasioglu served as the Vice President for Equitable Growth, Finance, and Institutions at the World Bank Group from 2015 to 2020, where she managed a portfolio of $30 billion in operational and policy work and advisory engagements. She also served in a variety of different positions with the IMF from 1992-1998 and 2003-2015, including as Deputy Director of the Monetary and Capital Markets Department, Assistant Director in the European Department, and Mission Chief for Ukraine. Earlier in her career, she helped Türkiye’s government contain and resolve the 2001 economic crisis — first as a member of the government’s crisis management team, then as the Vice President of the Banking Regulation and Supervision Agency.

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In this episode Paola Subacchi and Thomas Melonio examine the future of the Sustainable Development Goals (SDGs) and the likelihood of achieving them by 2030. They discuss how to navigate trade-offs and shape a realistic transition path – one that may be more manageable in the long term, but more complex in the short term. The conversation also highlights the critical need to ensure that developing countries are not left behind in accessing the opportunities provided by AI. 

Hosts & Guests

Paola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po. 

Thomas Melonio is Chief Economist at Agence Francaise de Development.

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In this episode of DebtTalks, Paola Subacchi hosts Thomas Lambert for an in-depth conversation on recent cases of sovereign debt restructuring and how they have been managed. The discussion explores the complexities of bond markets, coordination challenges among creditors, the role of multilateral institutions in addressing debt distress, and the urgent need for affordable sources of capital.

Hosts & Guests

Paola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po. 

Thomas Lambert is Managing Director of Lazard, Sovereign Advisory Group.

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How do public development banks work and how can they help mobilise financial
resources to deliver global public goods? What can we expect from the 4th
International Conference on Financing for Development, set to take place in Seville
from 30 June to 3 July 2025? Paola Subacchi speaks with Nicolas Picchiottino about
harnessing finance to close bridge development gaps both between and within
countries.

Hosts and Guests
Paola Subacchi is Professor of Political Economy, University of Bologna, and the
Incoming Chair in Sovereign Debt and Finance at Sciences Po.
Nicolas Picchiottino is the Secretary General of IDFC and the Head of Public
Development Banks at AFD.

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The OECD Global Report 2025 highlights the resuming of a long-term trend of more
than two decades of rising debt levels, accompanied by growing interest payment
burdens in many countries. In this episode of DebtTalk, Paola Subacchi and Fatos
Koc explore policy options – from fiscal restraint and structural reforms to stimulate
growth in advanced economies, to strategies for developing local capital markets in
emerging and developing countries.
Hosts and Guests
Paola Subacchi is Professor of Political Economy, University of Bologna, and the
Incoming Chair in Sovereign Debt and Finance at Sciences Po.
Fatos Koc is the head of Financial Markets Unit at the OECD.

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In Episode 12 of DebtTalks, Paola Subacchi and Sarah Carlson discuss Europe’s debt outlook and the balance between economic growth and debt management. Before diving into these topics, they explore the role of credit rating agencies in the international financial system. The episode offers insights into the methodologies behind sovereign debt ratings, the challenges that these agencies face in today’s complex economic environment, and how ratings can influence both investor confidence and policy decisions. 

Hosts & Guests

Paola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po. 

Sarah Carlson is Senior Vice President at Moody's Ratings, lead analyst for several European countries and a spokesperson on global issues and European matters. 

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What does transparency mean when it comes to debt contracts? What should be disclosed and what should remain confidential? And how can we highlight good practice? In this episode of DebtTalks, Anna Gelpern speaks with Paola Subacchi about the new initiative Public Debt is Public which Anna is leading in collaboration with Queen Mary University of London. The project focuses on countries with limited resources and aims to create a platform where sovereign debt documentation is publicly available, searchable, and easy to access.

Hosts & Guests

Paola Subacchi is Professor of Political Economy, University of Bologna, and the Incoming Chair in Sovereign Debt and Finance at Sciences Po. 

Anna Gelpern is Scott K. Ginsburg Professor of Law and International Finance at Georgetown Law and non-resident senior fellow at Peterson Institute for International Economics. 

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