Skip to main content

error

  • Past Event.
Feb 25

GIC Fifth Annual Sovereign Debt Restructuring Conference

Location:

Registration for this event has passed.

Sovereign debt restructurings are recurrent events, with their intensity having increased during the last two decades. The question that arises is whom to hold accountable for these episodes — should it be the borrowing countries, investors, international financial institutions (in particular the IMF), unpredictable catastrophic events or all of these elements collectively? This question becomes even more pressing in view of the dire prospects from the current buildup of massive global sovereign debt levels currently at 300 percent of global GDP. The conference will shed some light on these questions using the knowledge and insights of a distinguished group of experts from academia, global institutions and institutional investors.

This conference, now in its fifth year, is held in partnership with the Global Interdependence Center of Philadelphia.

Agenda

9:00 – 9:05 a.m. | Opening Remarks • George Tsetsekos, GIC Board Member and Francis Professor of Finance and Dean Emeritus Drexel’s LeBow College of Business • Michael Papaioannou, TA Expert-Advisor, International Monetary Fund

Session I

9:05 – 9:20 a.m. | Global Debt Perspectives • Miguel Savastano, Deputy Director, Monetary and Capital Markets Department, IMF

9:20 – 10:20 a.m. | Sovereign Perspectives • Patrick Honohan, former Governor Bank of Ireland • Athanasios Orphanides, former Governor Bank of Cyprus • Alfonso Prat-Gay, former President of the Central Bank of Argentina

10:20 – 10:35 a.m. | IMF Perspectives • Yan Liu, Deputy General Counsel of LEG, International Monetary Fund

10:35 – 10:50 a.m. | Session I Q&A • Moderator: Michael Papaioannou, TA Expert-Advisor, International Monetary Fund

10:50 – 11:00 a.m. | Break

Session II

11:00 – 11:15 a.m. | Rating Agencies Perspective • Elena Duggar, Chair, Moody’s Macroeconomic Board

11:15 – 11:30 a.m. | Financial/Legal Advisor’s Perspective • Rafael Molina, Managing Partner of Newstate Partners LLP

11:30 a.m. – 12:00 p.m. | Investor’s Perspectives • Federico Sequeda, Vice President, Eaton Vance Management • Liam Localio, Managing Director, Greylock Capital Management

12:00 – 12:15 p.m. | Catastrophe Shocks, Institutional and State Contingent Debt Instruments • Thordur Jonasson, Deputy Division Chief, Debt Capital Markets Division, International Monetary Fund

12:15 – 12:30 pm. | Analytical Perspectives • Tamon Asonuma, Economist in the Strategy Policy and Review Department, International Monetary Fund

12:30 – 12:45 p.m. | Session II Q&A • Moderator: Michael Papaioannou, TA Expert-Advisor, International Monetary Fund

12:45 – 1:00 p.m. | Closing Remarks • Michael Papaioannou, TA Expert-Advisor, International Monetary Fund

Speakers
Tamon Asonuma

Economist in the Strategy Policy and Review Department, IMF

Economist in the Strategy Policy and Review Department, IMF

Elena Duggar

Chair of Moody’s Macroeconomic Board, Moody’s

Chair of Moody’s Macroeconomic Board

Patrick Honohan, Ph.D.

Former Governor, Central Bank of Ireland

Rafael M. Molina

Managing Partner, Newstate Partners

Managing Partner, Newstate Partners

Athanasios Orphanides, Ph.D.

Professor of the Practice of Global Economics and Management, MIT Sloan School of Management

Dr. Michael G Papaioannou

TA Expert-Advisor, International Monetary Fund

Papaioannou is an expert-advisor at the International Monetary Fund and a visiting scholar and professor of economics at the LeBow College of Business.

Alfonso Prat-Gay

Former President, Central Bank of Argentina

Audience

Students
Faculty
Alumni

Disciplines

Finance
Economics
International Business
Have Questions?

Gavin McCullion

Associate Director

(215) 895-2376

Gerri C. LeBow Hall 590