2016 DMF Stakeholders’ Forum: Managing a Diverse Debt Portfolio in a Volatile Global Environment
May 30-31, 2016Lusaka, Zambia

The Seventh Debt Management Facility (DMF) Stakeholders’ Forum: "Managing a Diverse Debt Portfolio in a Volatile Global Environment" took place on May 30-31, 2016, in Lusaka, Zambia.

The Seventh Debt Management Facility (DMF) Stakeholders’ Forum: "Managing a Diverse Debt Portfolio in a Volatile Global Environment"  took place on May 30-31, 2016, in Lusaka, Zambia. The Forum facilitated a discussion of issues in public debt management in a changing global environment as well as challenges faced by developing countries. The Forum was targeted for policy-makers and debt managers from developing countries, international and regional technical assistance providers, representatives of civil society organizations, as well as bilateral donors and multilateral development banks. 

Day 1, May 30, 2016

8:00-8:30 am Registration

8:30-9:00 am Introduction

Ms. Abha Prasad, DMF Program Manager 

Opening Remarks:

Mr. Charles Boamah, Vice President, Finance (FNVP) African Development Bank

Mr. John Panzer, Director, Macroeconomics and Fiscal Management Global Practice, World Bank Group

9:00-10:30 am Plenary Session 1: A Global Perspective: What are the Challenges for Debt Managers?

Moderator: Mr. Mark Thomas, Practice Manager, Macroeconomics and Fiscal Management Global Practice, World Bank Group


Mr. Daniel Hardy, Division Chief, Monetary and Capital Markets Department, International Monetary Fund

Mr. Desire Vencatachellum, Director, Resource Mobilization and External Finance Department,  African Development Bank 

Mr. Mayokun Ajibade, Head of Financial Markets Southern Africa, Standard Chartered Bank, Global Research, United Kingdom

Mr. Gregory Smith, Senior Country Economist, Macroeconomics and Fiscal Management Global Practice, World Bank Group

10:30-11:00 am Coffee Break

11:00-12:30 pm Plenary Session 2: New Financing Sources in Developing Countries

Moderator:  Dr. Caleb M. Fundanga, Executive Director, Macroeconomics and Financial Management Institute (MEFMI)


Ms. Stephanie Blankenburg, Head, Debt, Development and Finance Branch, UNCTAD

Ms. Tshepiso Moahloli, Chief Director, Liability Management, National Treasury, Asset and Liability Management Division, South Africa

Mr. Gardner Rusike, Associate Director, Sovereign and International Public Finance Ratings, S&P Global Ratings, South Africa

Mr. Robert Schmitz, Statistical and Reporting Officer, Economics Department, European Investment Bank Group

12:30-2:00 pm Luncheon

12:45-1:15 pm Keynote Address

Introduction: Mr. John Panzer, Director, Macroeconomics and Fiscal Management Global Practice, World Bank Group 

Address: Hon. Minister Alexander Chikwanda, Minister of Finance, Zambia

1:15-1:45 pm Question/answers

2:00-3:30 pm Break-Out Session 1: Fiscal Risks from Contingent Liabilities

Moderator: Mr. Lars Jessen, Lead Debt Specialist, Macroeconomics and Fiscal Management Global Practice, World Bank Group


Mr. Bwire Magere, Senior Finance Management Officer, Policy Analysis Division, Ministry of Finance, Tanzania

Mr. Sebastien Boitreaud, Lead Financial Officer, Treasury,  World Bank Group 

Mr. Edgardo Demaestri, Lead Financial Market Specialist, Inter-American Development Bank

Break-Out Session 2: Debt Sustainability: Status and Risks 

Moderator: Mr. Desire Vencatachellum, Director, Resource Mobilization and External Finance Department, African Development Bank


Mr. Myrvin Linden Anthony, Senior Economist, Strategy, Policy and Review Department, International Monetary Fund

Mr. Matthew H. Martin, Director, Development Finance International

Mr. Daniel Tilahun Wolde, Senior Expert, Debt Management Directorate, Ministry of Finance and Economic Cooperation, Ethiopia 

Mr. Alban Fetahu, Head of Middle Office, Debt Management Division, State Treasury, Ministry of Finance, Kosovo 

3:30-4:00 pm Coffee Break

4:00-5:30 pm Break-Out Session 3: The Role of the Debt Management Office

Moderator: Hon. Minister Winston DaCosta Jordan, Ministry of Finance, Government of Guyana


Ms. Lilia Razlog, Senior Debt Specialist, Macroeconomics and Fiscal Management Global Practice, World Bank Group

Mr. Zsolt Bangó, Head of Treasury Department, Government Debt  Management Agency PTE LTD, Treasury Department, Hungary

Ms. Rekha Warriar, Chief General Manager, Internal Debt Management Department, Reserve Bank of India

Mr. Pascal Assiami, Deputy General Director, Debt Management Office, Gabon

Break-Out Session 4: Subnational Fiscal and Debt Rules  

Moderator:  Mr. Baba Musa, Director, WAIFEM 


Ms. Christine Martell, Associate Professor and MPA Program Director, School of Public Affairs, University of Colorado, Denver

Mr. Jaime Coronado, Coordinator, Public Debt Management Program, CEMLA

Mr. Alex Bialosa Elikwu, Assistant Director/Head Policy and Standards, Fiscal Responsibility Commission, Nigeria 

Ms. Smriti Seth, Economist, Macroeconomics and Fiscal Management Global Practice, World Bank Group, India

6:30 -8:00 pm Dinner Reception 

Day 2, May 31, 2016

9:00-10:30 am Plenary Session 3: Trends and Policies to Improve Funding via Domestic Debt Markets

Moderator: Ms. Alison Harwood, Global Lead, Finance and Market Global Practice, World Bank Group


Mr. Raphael Otieno, Director, Debt Management, MEFMI

Mr. Mohamed Elashry, Financial Analyst, Debt Management Unit, Ministry of Finance, Egypt 

Mr. Laszlo Buzas, Consultant, Public Debt Management

Mr. Victor Chileshe, Head Global Markets, Stanbic Bank, Zambia

10:30-11:00 am Coffee Break

11:00-12:30 pm Break-Out Session 5: A Two-tiered Approach to MTDS?

Moderator: Mr. Mark Thomas, Practice Manager, Macroeconomics and Fiscal Management Global Practice, World Bank Group


Mr. Bakyt Sydykov, Head of Public Debt Department, Ministry of Finance, Kyrgyz Republic

Mr. Sivuyise Ngwane, Deputy Director, Market Risk, National Treasury, South Africa

Mr. Ismaël Moussa Yamkalla Mama, Director of Strategy, Caisse Autonome d’Amortissement, Republic of Benin

Mr. Souleymane Sene, Chief Inspector of Treasury, Central Treasury, Senegal.

Break-out Session 6: Reform Plans – What happens after they are developed?

Moderator: Mr. Tomas Magnusson, Chair, DMF Panel of Experts


Mr. Nguyen Trong Nghia, Head, Planning and Risk Management Department of Debt Management and External Finance, Ministry of Finance, Vietnam

Mr. David Isaac Mpoza, Ag. Director, Debt and  Cash Management Department, Ministry of Finance, Planning and Economic Development, Uganda

Ms. Haingotiana Rahaniraka,  Debt Manager, Directorate of Public Debt, Ministry of Finances and Budget, Madagascar

Mr. Johan Krynauw, Programme Manager CABRI/National Treasury of South Africa

12:30-2:00 pm Luncheon

2:00-3:30 pm Plenary Session 4: Results and Outcomes from the Technical Assistance Provided under the DMF

Moderator: Ms. Abha Prasad, Lead Debt Specialist, Macroeconomics and Fiscal Management Global Practice, World Bank Group


Mr. Pyke Polderman, Policy Adviser, Ministry of Foreign Affairs, International Financial Institutions, Netherlands

Mr. Raphael Otieno, Director, Debt Management, MEFMI

Ms. Kazi  Nahid Rasul, Senior Assistant Secretary, Debt Branch, Ministry of Finance,  Bangladesh 

Mr. Monday Usiade, Head, Market Development, Debt Management Office, Nigeria

3:30-4:00 pm Coffee Break

4:00-5:00 pm Special Session 1: Government debt data and quality constraints

Moderator: Mr. Alex Mubiru, Manager, Sovereign Division , Resource Mobilization and External Finance Department, African Development Bank


Ms. Evis Rucaj, Senior Economist, Development Economics and Chief Economist, World Bank Group

Mr. Deon Tanzer, Economist, Statistics Department, International Monetary Fund 

Mr. Gerry A. Teeling, Chief, DMFAS Program, UNCTAD, Debt & Development Finance Branch

Mr. Mohamed A. Ahmed, Head of Debt Management Unit, Ministry of Finance, Federal Government of Somalia 

Special Session 2: Discussion on Primary Dealers

Moderator: Ms. Alison Harwood, Global Lead, Finance and Market Global Practice, World Bank Group


Mr. Baudouin Richard, Consultant, Public Debt Management

5:00-5:30 pm Closing Remarks

Mr. John Panzer, Director, Macroeconomics and Fiscal Management Global Practice, World Bank Group


  • Mohamed A. Ahmed

    Mohamed A. Ahmed is the Head of Somalia's nascent Debt Management Unit (DMU) within the Ministry of Finance of the Federal Government of Somalia. Mohamed has been working to reconstruct Somalia’s debt database since early 2014 alongside African Development Bank arrears clearance and debt management consultants. Mr. Ahmed is a Somali- Canadian and was educated in Canada (Queen’s University).
  • Myrvin L. Anthony

    Myrvin L. Anthony is a Senior Economist, in the Debt Policy Division, Strategy, Policy and Review Department, IMF. He joined the IMF in November 2007 as a Public Debt Management Technical Advisor. Prior to joining the IMF, he was the Head of Economic Research at the United Kingdom Debt Management Office from November 2003 to October 2007. He has published academic papers in various economic journals and edited books covering different topics. He holds an M.Phil. in Economics from the University of Cambridge, an M.Sc. in Social Sciences from the University of the West Indies, and B. Soc. Sc. in Economics from the University of Guyana.
  • Mayokun Ajibade

    Mayokun Ajibade is Managing Director, Head Financial Markets, Southern Africa, for Standard Chartered Bank. Mr. Ajibade has an extensive understanding of African financial markets, built over the past 18 years of experience working in some of the continent’s most dynamic economies. He was more recently responsible for the global markets business of Standard Chartered Bank across West Africa. Mr. Ajibade joined Standard Chartered in Nigeria as a money market dealer and served as Assets and Liability Management Manager and Head of Trading for the Nigeria business.
  • Zsolt Bangó

    Zsolt Bangó joined the Hungarian Government Debt Management Agency (AKK) in 2000 as Chief Dealer. He has been Head of the Treasury Department since 2003, with responsibilities that include secondary market operations of AKK, the execution of the hedging transactions and the organization of the Hungarian primary dealer system. Mr. Bangó has been actively involved in the development and EU harmonization of the Hungarian government securities market and that of the primary dealer system.
  • Stephanie Blankenburg

    Stephanie Blankenburg is Head of the Debt & Development Finance Branch in the Division on Globalization and Development Strategies at the United Nations Conference on Trade and Development (UNCTAD). Prior to joining UNCTAD in June 2015, she was Senior Lecturer in Economics at the School of Oriental and African Studies (Department of Economics) in London, UK, where she taught and researched since 2001, mostly in the areas of macroeconomic theory, global economy policy and development economics. Blankenburg holds a PhD and a Master's degree in Economics from the University of Cambridge (UK), where she also worked as a junior research fellow at the ESRC Business Centre in the Department of Applied Economics (1997-2000) and as college teaching officer and Director of Studies in Economics at St Edmund's and Downing Colleges (2000-2001).
  • Charles Boamah

    Charles Boamah is Chief Financial Officer and Vice President of the African Development Bank Group, a position he has held since May 2011. Since January 2016, he has also served as Acting First Vice President and Chief Operating Officer. He jointed AfDB in 1996. Mr. Boamah has served on the Board of Directors of the African Export-Import Bank (Afreximbank), the Audit Advisory Committee of UNICEF, the Board of Governors of PTA Bank, and global action committees of the World Economic Forum.
  • Sébastien Boitreaud

    Sébastien Boitreaud has over 12 years of experience in public debt management and financial sector regulation and development, gained at the French Treasury, where he was Deputy Head of the Debt Management Office. A former Alternate Executive Director for France at the International Monetary Fund, he joined the World Bank in 2012 as an adviser to the Vice President and Treasurer, before moving to the Government Debt and Risk Management team in 2014. As Lead Financial Officer at the World Bank Treasury, Mr. Boitreaud works on the assessment and reform of public debt management in Morocco, Cameroon, Cote d'Ivoire, Ghana, Kuwait, Tunisia, Egypt, and other countries.
  • Laszlo Buzas

    Laszlo Buzas is an independent consultant in public debt management working for the World Bank and the IMF. He is a former Deputy Chief Executive Officer of the Hungarian Government Debt Management Agency (ÁKK), in charge of front-office activities. His responsibilities included domestic and international fund-raising, portfolio management and liquidity management operations, as well as the development of the domestic government securities market. Before joining ÁKK in 1997, Mr. Buzas worked at the National Bank of Hungary for fifteen years in various positions related to foreign debt management.
  • Hon. Minister Alexander Chikwanda

    Hon. Minister Alexander Chikwanda started his political career at the time of Zambia’s independence in 1964. He has served in various positions including Minister of State, Office of the President, Minister of State, Development Planning, Minister of Health, Minister of Planning and Finance, Minister of Local Government and Housing, Minister of Lands and Agriculture, and Minister of Water Development in the first Government. He also has served on many companies’ Board of Directors, including Barclays Bank Zambia, ZAMEFA, Zambia Sugar, Goldman Insurance, Africa Life Assurance, African Rainbow Minerals, and Chambishi Metals. He is an avid reader and writes on development issues.
  • Victor CHILESHE

    Victor CHILESHE is the Head at Stanbic Bank Global Markets since 2013. He has 8 years’ experience in the Global Markets environment. From Sales of Global market and treasury products to managing the Liquidity, Foreign Exchange and Interest Rate risk for Stanbic Bank. He oversees the implementation of both trading and sales strategies in foreign exchange, money markets and fixed income trading. Stanbic Bank for 4 years running he has been voted best foreign exchange provider by Global Finance.
  • Jaime Coronado

    Jaime Coronado, a national of Bolivia, has been working, since 2001, in Mexico City at the Centre for Latin American Monetary Studies (CEMLA). Currently he works as a Program Coordinator of two regional technical assistance programs: Public Debt Management Capacity Building Program (PDP) and the Debt Management Facility (DMF). Mr. Coronado was member and first Co-chair (2009- June 2011) of the Technical Advisory Group of the DMF, which included representatives of various international technical assistance organizations in debt management. Since 2014, is member of the Implementation Coordination Group of the DMF.
  • Edgardo Demaestri

    Edgardo Demaestri is Lead Financial Markets Specialist at the Capital Markets and Financial Institutions Division of the Inter-American Development Bank. He is also Executive Secretary of Latin American and the Caribbean Debt Management Specialists Group (LAC Debt Group). Previously, he held senior positions at the International Monetary Fund and the Central Bank of Argentina. He is actively working on contingent liabilities and sovereign asset and liability management, writing articles and making presentations in international forums.
  • Mohamed Elashry

    Mohamed Elashry is a Financial Analyst in the debt management unit within the ministry of finance of Egypt. He works in domestic debt market development focusing on primary market issuance programs and secondary market reform program through improving market architecture, market regulations, price transparency as well as market making mechanisms. Also responsible for handling the World Bank technical assistance mission on public debt & government securities markets reforms. In October 2015 he produced in collaboration with the World Bank the Medium Term Debt Strategy covering the period (2016-2019).
  • Alex Bialosa Elikwu

    Alex Bialosa Elikwu has worked in the Nigerian financial sector for more than a decade and has lectured for some years at both undergraduate and postgraduate levels in the Department of Economics of Lagos State University, Anthony Campus. He was the Acting Head, Macro Division, Economic Management Department of Centre for Management Development (CMD), Lagos, Nigeria, before joining the Fiscal Responsibility Commission in Abuja in 2011 as the pioneer Head of the Directorate of Policy and Standards. Mr. Elikwu has published numerous articles on macroeconomic and fiscal management.
  • Alban Fetahu

    Alban Fetahu is a young professional from the Republic of Kosovo. Briefly after obtaining an Accounting degree from Texas Tech University, in March of 2011, he joined the Treasury of Kosovo within the Ministry of Finance as Head of Middle Office, Cash and Debt Management Division. His primary role in this position is strategic planning, risk management, liquidity management, and overall market development. In addition, Mr. Fetahu has been a debt practitioner under the Debt Management Practitioner’s Program with the World Bank.
  • Caleb M. Fundanga

    Caleb M. Fundanga has been Executive Director of the Macro Economic and Financial Management Institute (MEFMI) for Eastern and Southern Africa, since July 2014. Prior to joining MEFMI, he was Governor of the Bank of Zambia for the period 2002–2011. Mr. Fundanga worked as Senior Advisor to the President of the African Development Bank (1995–1998) and as Executive Director of the African Development Bank (1998–2002). Before that, he served as Permanent Secretary for the Ministry of Finance, the Cabinet Office, and the National Commission for Development Planning of the Republic of Zambia. He started his working experience as an economics lecturer at the University of Zambia.
  • Daniel Hardy

    Daniel Hardy is currently Chief of the Debt and Capital Market Instruments Division in the Monetary and Capital Markets Department of the International Monetary Fund (IMF). During his carrer, he has worked on macroeconomic and financial sector surveillance, IMF-supported programs, and technical assistance regarding financial sector policies in a wide range of industrialized, emerging market, and developing countries. He has undertaken researh on such topics as cross-border policy coordination, credit market behaviour, and stress testing.
  • Alison Harwood

    Alison Harwood is Global Lead for Capital Markets in the Finance and Markets Practice of the World Bank Group playing a leading role in designing and implementing advisory services to develop capital markets in emerging market countries around the globe. Before joining the World Bank Group, Ms. Harwood was Director of the Capital Markets Practice at Barents Group LLC, KPMG’s emerging markets consulting arm, and prior to that with the Harvard Institute for International Development in Indonesia, supporting government and industry leaders in developing a range of financial markets, institutions, and products. Ms. Harwood began her career at the Federal Reserve Bank of New York and held several positions including Staff Director of the area overseeing primary dealers in the U.S. Treasury bond market. Ms. Harwood has published several books and articles on emerging capital markets and is a frequent speaker on emerging markets finance and development. She has an M.B.A. and Masters in International Affairs from Columbia University.
  • Lars Jessen

    Lars Jessen has over 20 years of experience in the field of public debt management, including asset and liability management, risk modeling, and management of contingent liabilities. Before joining the World Bank in 2002, Mr. Jessen was Special Adviser on government debt management for the Danish Central Bank. As Lead Debt Specialist at the World Bank, he has worked on the assessment and reform of public debt management in Egypt, Indonesia, Lebanon, Mongolia, Thailand, Turkey, Zambia, and others.
  • Hon. Minister Winston DaCosta Jordan

    Hon. Minister Winston DaCosta Jordan is the Minister of Finance of Guyana. During his distinguished career, he has held numerous roles in the Ministry of Finance and the State Planning Secretariat, including having been Head of the Budget Office. He has also served as a director of several entities, such as GAIBank, Bauxite Development Company, and Guyana Cooperative Financial Service. In addition, he has been Alternate Director of the Caribbean Development Bank (CDB) and Temporary Governor and Alternate Governor to the Inter-American Development Bank, the CDB, the International Monetary Fund, and the World Bank Group. He has taught at the University of Guyana. Mr. Jordan is the recipient of many honors and awards, notably the Mr. Mr. University of Guyana Vice Chancellor’s Special Award, a Commonwealth Scholarship, a UNDP Fellowship, and a Hubert H. Humphrey Fellowship.
  • Johan Krynauw

    Johan Krynauw has three decades of experience at the National Treasury of South Africa, where he played an active role in the management and administration of government debt and the development of the debt capital markets in South Africa. He serves on a number of debt capital market associations, domestically as well as internationally. He is currently on secondment to the Collaborative Africa Budget Reform Initiative (CABRI), heading up the Public Debt and Bond Markets program.
  • Bwire M. Magere

    Bwire M. Magere is a Senior Finance Management Officer at the Ministry of Finance and Planning in Tanzania. He joined the Ministry of Finance in 2005 as an Accountant in the Accountant General’s Department, where he was responsible for financial management. Since 2010, Mr. Magere has been involved in developing a debt management strategy and annual borrowing plans for the government, providing technical advice on risks associated with contingent liabilities, developing operational guidelines for credit -guarantee schemes. He has also been a member of the Government Loans Negotiation Team.
  • Tomas I. Magnusson

    Tomas I. Magnusson is an independent consultant. He was recruited by the World Bank in January 2002 as a Principal Financial Adviser with focus on enhancing public debt management capacity in developing countries. Previously, he held the positions of General Counsel and as Director and Head of the Guarantee Department of the Swedish National Debt Office. He has been working in the area of public financial management in a wide range of countries, including Albania, Burundi, Cambodia, Cyprus, Ghana, India, Jordan, Kosovo, Nigeria, Tanzania, and Vietnam. He was a core member of the World Bank team that developed the Debt Management Performance Assessment (DeMPA) tool in 2007, and the similar tool for subnationals in 2011.
  • Christine Martell

    Christine Martell is Associate Professor of Public Finance and Policy Analysis at the University of Colorado, Denver, School of Public Affairs. Dr. Martell's specialization emphasizes the nexus of public finance and international development issues. Her research contributes to the diverse fields of fiscal federalism, intergovernmental relations, international development, and the development of subnational credit systeMs. Her work is published in Public Budgeting and Finance, Public Finance Review, Public Administration Review, Municipal Finance Review, Public Administration and Development, and International Journal of Public Administration.
  • Matthew H. Martin

    Matthew H. Martin is Director of Debt Relief International (DRI), a non-profit organization which has built the capacity of more than 50 developing countries to design and implement their own debt management strategies, and conducts analysis of debt issues for many international organizations, donors and developing countries. Mr. Martin also directs Development Finance International (DFI) which performs similar functions on aid, private capital flows, tax and government spending. He was previously employed by the World Bank, Oxford University and the Overseas Development Institute, and has published extensively on debt relief and development financing. For more details, see
  • Tshepiso Moahloli

    Tshepiso Moahloli is Chief Director of Liability Management at the National Treasury of South Africa. Ms. Moahloli joined the National Treasury in 2010, and she is responsible for financing the government's gross borrowing requirement through the issuance of government securities, managing national government debt optimally, contributing to the development of the domestic debt capital market and the broadening of the investor base by developing and maintaining relations with both domestic and foreign investors.
  • David Isaac Mpoza

    David Isaac Mpoza is currently Acting Director of Debt and Cash Management at the Ministry of Finance, Planning, and Economic Development of Uganda. He formerly worked as Commissioner and Assistant Commissioner for 10 years in the Accountant General’s Office. He is a Fellow of the Association of Chartered Certified Accountants of Uganda and is a certified public accountant. Mr. Mpoza has over 20 years’ experience in project management and public sector accounting in the education, agriculture, health, justice, and law and order sectors.
  • Alex Mubiru

    Alex Mubiru is currently manager of the Sovereign Division in the African Development Bank Group’s Resource Mobilization and External Finance Department. The division is responsible for resource-mobilization initiatives and partnerships with sovereign entities. It also oversees the Bank's participation in the HIPC and MDRI initiatives. He has previously served as Lead Advisor in the Bank’s Strategy and Policy Department as well as a Principal Country Economist and Principal Research Economist in the Bank’s Regional Operations and Research Departments, respectively. Mr. Mubiru has also worked at the National University of Singapore, the World Bank, and the Thailand Development Research Institute.
  • Baba Musa

    Baba Musa is Director of the Debt Management Department at the West African Institute for Financial and Economic Management (WAIFEM). Prior to joining WAIFEM, Mr. Musa had a twenty-one year stint at the Central Bank of Nigeria, where he worked in both the Research and the International Economic Relations Departments and retired as Assistant Director of Research. He is currently Chairman of the Implementation Coordination Group (ICG) of the World Bank Debt Management Facility and an adviser on debt to some state governments in Nigeria.
  • Nguyen Trong Nghia

    Nguyen Trong Nghia is currently Head of the Planning and Risk Management Division of the Department of Debt Management and External Finance of the Socialist Republic of Vietnam. His main duties are overseeing strategic planning of public debt, developing the medium-term borrowing plan, and planning annual debt mobilization and debt payments. He is also in charge of debt portfolio risk management. Mr. Nghia has been with the Ministry of Finance of Vietnam for almost 20 years since 1997.
  • Sivuyise Ngwane

    Sivuyise Ngwane is currently working with the National Treasury of South Africa in the Asset and Liability Management Division as a Deputy Director (Senior Quantitative Analyst) for Market Risk (Sovereign Debt Portfolio), where he is responsible for leading the technical operations of the team and for research in risk measurement and management techniques in respect of interest rate and refinancing risk, inflation risk, rollover/liquidity risk, and foreign currency risk related to the government’s debt portfolio.
  • Raphael Otieno

    Raphael Otieno is currently Director of the Debt Management Program at the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)Mr. Otieno has vast experience in public finance and macroeconomic analysis. He has held various senior positions in Kenya’s public service, including working as an Economist in the Ministries of Finance and Planning, and as Senior Research Officer/Senior Economist at the Central Bank of Kenya. His experience on economic policy management spans more than 20 years. From June 2011 to June 2013 he served as the Chairman of the Technical Advisory Group (TAG) of the World Bank’s Debt Management Facility (DMF) for low-income countries. He is currently a member of the DMF Phase II Implementation Coordination Group (ICG) and was a member of a panel of experts appointed by UNCTAD to work on a roadmap for a new debt workout mechanism.
  • John Panzer

    John Panzer is Director of the Global Practice for Macroeconomics and Fiscal Policy. He is responsible for the World Bank’s macroeconomic and fiscal management analytic and advisory services, as well as for budgetsupport operations in Africa, Latin America and the Caribbean, and the Middle East and North Africa. In this position he oversees a substantial part of the World Bank’s overall lending and advisory services. Mr. Panzer joined the World Bank in 1990 and has since served in several capacities in Africa, Asia, and Latin America, and at the global corporate level. These included being the first Resident Representative to Ecuador, Manager of the International Trade Department and Manager of Economic Management and Poverty Reduction for Southern Africa.
  • Pyke Polderman

    Pyke Polderman works as a policy adviser at the International Financial Institutions Unit of the Ministry of Foreign Affairs of the Netherlands. Mr. Polderman is desk officer for the African Development Bank (Bank). He is also responsible for debt issues within the Ministry. This concerns technical assistance programs regarding debt management as well as debt restructuring. He is part of the delegation of the Netherlands to the Paris Club. Pyke Polderman earned a Master’s degree in monetary economics from the University of Amsterdam.
  • Abha Prasad

    Abha Prasad has over 20 years of experience working on debt management and fiscal policy. She is Program Manager of the Debt Management Facility and is working as a Lead Debt Specialist with the World Bank’s Global Practice for Macroeconomics and Fiscal Policy. Prior to this, she was a Director at the Reserve Bank of India, managing the debt of both the federal government and 28 sub-nationals. Mrs. Prasad has been leading the work on the Debt Management Performance Assessment (DeMPA) framework, and the medium-term debt management strategy. She has worked in several developing countries and emerging markets on debt management issues, including Bangladesh, Bhutan, Belarus, Brazil, China, Ethiopia, Ghana, Indonesia, Peru, Maldives, Moldova, Malawi, Nepal, Nicaragua, Nigeria, Tanzania, and Vietnam.
  • Haingotiana Rahaniraka

    Haingotiana Rahaniraka is a debt manager for the General Directorate of Treasury within the Ministry of Finances and Budget in Madagascar. She has been heading the Department acting as front-office and back-office of the foreign debt for the last four years. She was an auditor of the Public Treasury accounts, previously. She is part of the editorial staff of the Treasury Magazine, in charge of the publication of articles related to the national debt administration. She holds a degree on Treasury Inspector and Engineering in Agriculture.
  • Kazi Nahid Rasul

    Kazi Nahid Rasul joined the civil service of Bangladesh in 2005 as an Assistant Commissioner and has held a variety of positions in the field administration and at the ministry level. She has been working in the Treasury and Debt Management Wing of the Finance Division under the Ministry of Finance since 2013. Before joining the civil service, Ms. Kazi worked as a Finance Officer at BEXIMCO Pharmaceuticals.
  • Lilia Razlog

    Lilia Razlog is a Senior Debt Specialist in the Marcoeconomics and Fiscal Management Global Practice of the World Bank. She is an expert in the Debt Management Performance Assessment (DeMPA) methodology and its application across the member countries as part of the Debt Management Facility technical assistance program. Ms. Razlog brings more than 19 years of professional experience in debt management, public sector reforms, and regional experience in Europe, Asia, and Africa. Prior to joining the World Bank, she was a Director of the Debt Department in the Ministry of Finance of Moldova.
  • Baudouin Richard

    Baudouin Richard is an independent consultant. He previously was Director of Finance and Chairman of the Executive Committee of the Public Debt Management Agency in the Belgian Ministry of Finance (1993-2008). Before joining the Ministry of Finance, he spent most of his professional career with JP Morgan Bank.
  • Evis Rucaj

    Evis Rucaj has over 20 years of experience in balance of payment and external debt statistics, methodology, and compilation. She is Senior Economist/Statistician at the World Bank and is currently leading the Financial Data team for the compilation and dissemination of the World Bank Debtor Reporting System (DRS) database, the International Debt Statistics publication, as well as quarterly debt statistics in a collaborative effort with the International Monetary Fund and the Organization for Economic Cooperation and Development. Prior to the World Bank, she was Deputy Director of the Statistics Department at the Bank of Albania.
  • Gardner Rusike

    Gardner Rusike, is an Associate Director in S&P Global Ratings Emerging Markets Sovereign Team, covering a number of African sovereigns, local and regional governments, government-related entities and multilateral institutions. Prior to joining S&P in 2012, Mr. Rusike worked as an Economist in Western Cape Government Fiscal Policy division for three years and also taught undergraduate economics at Rhodes University for two years. He holds B.Sc. Economics from University of Zimbabwe and a Masters in Financial Markets (cum laude) from Rhodes University. His research interests are in development of bond markets in Africa.
  • Ina-Marlene Ruthenberg

    Ina-Marlene Ruthenberg is the World Bank Country Manager for Zambia. She is a Development Economist with broad experience in policy as well as operational work in bilateral and multilateral organizations (World Bank Group, Inter-American Development Bank and European Union). Prior to becoming Country Manager for Zambia, she has held various technical and managerial leadership positions these include; Alternate Executive Director, Country Program Coordinator, Senior Economist/Task Team Leader, Deputy Head of the Extractive Industries Review and Adviser to the Executive Director.
  • Robert Schmitz

    Robert Schmitz worked for 11 years as a statistical consultant at the Statistical Office of the European Union (EUROSTAT) before joining the European Investment Bank (EIB) in 2000. He works in the EIB’s Economics Department, where he is responsible for the implementation of the HIPC Initiative on behalf of the EU/EIB and deals with public debt issues in post- HIPC countries. Mr. Schmitz is also responsible for the EU’s reporting on official development assistance (ODA) to the Organization for Economic Cooperation and Development, in cooperation with the European Commission. He has been involved in the modernization of the ODA methodology.
  • Souleymane Sene

    Souleymane Sene is Chief Treasury Inspector in Senegal and, since October 2015, has been acting as Deputy General Treasurer / Accountant Central Treasury of Senegal. Mr. Sene has been Head of the Deposit Accounts Office of the National Treasury, where he was responsible for managing domestic debt, including the issuance of securities, and Head of Debt Policy and Market Strategy of the Public Debt Department of the National Treasury. In 2012, he was seconded to the World Bank and participated in a debt management mission to Dem. Rep. Congo. Since 2013, he has been an instructor on the relationship between financial markets and public debt at Ecole Nationale d’Administration du Sénégal. Mr. Sene is also a member of the panel of experts for the Debt Management Facility.
  • Smriti Seth

    Smriti Seth is a macroeconomist with the World Bank. She has engaged extensively at the national and subnational level in India on debt management – including conducting Debt Management Performance Assessments, and providing technical assistance on Debt Strategies and Debt Sustainability Analyses. She has done research on existing institutional arrangements for deficit financing for subnational in India and also developed an integrated debt sustainability analysis framework for India and its subnational units. In addition to debt management, she has experience in macro-modelling and forecasting, and has provided support to countries in South Asia in developing their macro-forecasting models.
  • Gregory Smith

    Gregory Smith is a Senior Economist in the World Bank’s Global Practice for Macroeconomics and Fiscal Management. His main professional and academic interests lie in macroeconomic management, fiscal and debt sustainability, and structural policies for inclusive growth and poverty reduction. Extensive global travel has fueled an interest in analyzing and over-turning commonly-held assumptions about investing in emerging and frontier markets. He has a doctorate in economics from the University of Nottingham in the UK.
  • Bakyt Sydykov

    Bakyt Sydykov is Head of the Public Debt Department of the Kyrgyz Ministry of Finance. Mr. Sydykov has worked on establishing the legal and institutional framework for debt management and debt policy, on bilateral external debt rescheduling, and on establishing domestic borrowing markets. In 2013, Mr. Sydykov was selected for the Debt Management Practitioners Program at the World Bank and participated in technical assistance work in Uganda and Georgia.
  • Deon Tanzer

    Deon Tanzer is an Economist in the Statistics Department of the International Monetary Fund since 2013, after working at Statistics Netherlands for seven years as a senior statistician in Government Finance Statistics (GFS). He is the coordinator for the Public Sector Debt Statistics Working Group that works under the auspices of the Task Force on Finance Statistics. He has developed a series of GFS e-learning videos (IMF Statistics E-Learning Videos - YouTube) and provides GFS training, workshops and technical assistance to member countries. Mr. Tanzer holds a Master of Arts from the University of Amsterdam, majoring in Development Economics and Transitional Economics.
  • Gerry A. Teeling

    Gerry A. Teeling is Senior Economics Affairs Officer with the United Nations Conference on Trade and Development (UNCTAD). He heads the Debt Management and Financial Analysis Systems (DMFAS) Program. He has over 20 years of experience in debt management in developing countries and economies in transition, occupying a variety of roles in providing capacity-building support to over 60 countries. He has served the Debt Management Facility (DMF) as Chair of the Implementation Coordination Group (ICG), and he formerly chaired the DMF Technical Advisory Group. Mr. Teeling previously worked with the Department of Finance of the Government of Ireland.
  • Mark Thomas

    Mark Thomas is Practice Manager for Macroeconomics and Fiscal Management at the World Bank, responsible for global engagements on public debt. He has worked for clients in Africa, Latin America, Europe, and Asia, including assignments based in Brasilia and Ankara. He has published articles on public debt, growth, economic crises, labor markets, and regional policy. Mr. Thomas helped establish a Paris-based start-up management consultancy in the early 1990s and has served as adjunct faculty at Georgetown University, Princeton University, and the University of Montreal.
  • Monday Usiade

    Monday Usiade has held a variety of posts in the Nigerian Debt Management Office. Since joining the DMO, he has worked as Technical Assistant to the Director-General, Team Leader (Policy, Strategy, and Risks Management), and Team Leader (Loans and Other Financing Products Unit). He is currently Head of the Market Development Department. Mr. Usiade was on a secondment to the World Bank in 2015, during which he focused on fiscal risks and contingent liabilities management in Nigeria.
  • Désiré Vencatachellum

    Désiré Vencatachellum has been with the African Development Bank since August 2005. He is Director of the Resource Mobilization and External Finance Department, which oversees the African Development Fund, partnerships, trust funds, and co-financing. Mr. Vencatachellum also served as Director of the Operational Policies Department and as Director of the Research Department. Prior to joining the AfDB, he was Professor of Economics at HEC Montréal, Université de Montréal, Canada.
  • Rekha G. Warriar

    Rekha G. Warriar has been with the Reserve Bank of India since 1982 and has worked in various departments, including Banking Regulation, Supervision, Rural Development, Foreign Exchange, Urban Banks, Financial Stability, and Internal Debt Management. Currently Mrs. Warriar is heading the Internal Debt Management Department, which manages the public debt of the central and state governments in India.
  • Daniel Tilahun Wolde

    Daniel Tilahun Wolde has worked for more than 15 years at the Ministry of Finance and Economic Cooperation of Ethiopia, in the Debt Management Directorate. Currently he is responsible for coordinating middle-office activities. His responsibilities include overseeing the preparation and formulation of the medium-term debt management strategy, carrying out debt sustainability analyses, and preparing and disseminating the Public Sector Debt Statistical Bulletin and Debt Portfolio Analysis report.
  • Ismaël Moussa Yamkalla Mama

    Ismaël Moussa Yamkalla Mama is Director of Strategy at the Caisse Autonome d’Amortissement of Benin, the government’s debt management office. In this role, Mr. Yamkalla is responsible for formulating the government’s debt management strategy and for monitoring its implementation, as well as for preparing debt sustainability analyses. In addition, he is responsible for coordinating the activities of the National Debt Commission, for preparing periodic debt management reports, and for compiling and publishing statistical bulletins on the government’s debt portfolio.