Events

Debt Transparency in Developing Economies

November 11, 2021

World Bank Live

Illustration of a person on a boat looking at an iceberg, unaware of its true size below the surface

Debt in emerging market and developing economies has surged to a record high since the outbreak of COVID-19, but new analysis from the World Bank Group shows that the global and country-by-country systems for tracking it are proving to be grossly inadequate.

High debt and inadequate debt transparency in poor economies are closely intertwined. Policymakers can no longer afford to be complacent about either. The World Bank report is the first comprehensive assessment of debt transparency in these economies—and it offers a roadmap for policymakers on how close gaps in debt transparency.

SPEAKERS

David R. Malpass
President, World Bank Group
David R. Malpass was selected as the 13th President of the World Bank Group by the Bank’s Board of Executive Directors on April 5. His five-year term began on April 9, 2019.

Carmen M. Reinhart
Senior Vice President and World Bank Group Chief Economist
Carmen M. Reinhart is the Senior Vice President and Chief Economist of the World Bank Group. Assuming this role on June 15, 2020, Reinhart provides thought leadership for the institution at an unprecedented time of crisis. She also manages the Bank’s Development Economics Department.

Lee C. Buchheit
Honorary Professor, University of Edinburgh Law School
Lee C. Buchheit retired in 2019 after a 43-year legal career. During his career, Mr. Buchheit worked on more than two dozen sovereign-debt restructurings. He led the legal teams advising Greece in the 2012 restructuring of government bonds totaling more than 206 billion euros (the largest sovereign-debt workout in history). He also advised the Republic of Iraq in the 2004-08 restructuring of $140 billion of debt accumulated by the Saddam regime. He holds a variety of academic appointments.

Joyce Chang
Global Chair of Research, JP Morgan
Joyce Chang is Chair of Global Research for J.P. Morgan’s Corporate and Investment Bank, a global leader in Banking, Markets and Investor Services. J.P. Morgan’s Global Research professionals study all sectors in which the firm does business, including equities, fixed income, currency and commodities, emerging markets, derivatives and structured finance. The global research team has been named the top global research firm for 2017 and 2018 by Institutional Investor.

Paul Gruenwald
Global Chief Economist, S&P Global Ratings
Paul Gruenwald is the Global Chief Economist at S&P Global Ratings based in New York. He leads the economic research agenda and serves as the primary spokesperson on macro-economic matters for the company.