DebtTalks

This episode explores how development finance can unlock private investment where it matters most. From supporting Ukraine’s recovery and strengthening economic resilience to mobilising capital, creating jobs and driving sustainable growth, Ines Rocha, Division Director for Western, Central and Eastern Europe, Ukraine and Moldova, IFC, World Bank Group, shares how public and private finance can work together to turn investment into lasting impact.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.Ines Rocha, Division Director for Western, Central and Eastern Europe, Ukraine and Moldova, IFC, World Bank Group, leads the IFC’s work across Western, Central and Eastern Europe, with a focus on mobilising private investment, supporting sustainable growth and strengthening the private sector. She has more than 20 years of experience in development finance and capital markets, including senior roles at the European Bank for Reconstruction and Development (EBRD), where she helped lead the institution’s response to the war in Ukraine and mobilise support for the country’s economy and private sector. Earlier in her career, she worked at UBS Investment Bank and the Central Bank of Portugal.Production : Paola SubacchiCoordination : Nathalie CorvéeMusique : Nils BertinelliHosted on Ausha. See ausha.co/privacy-policy for more information.

In this episode, Paola sits down with Sonja Gibbs to unpack the shifting global debt landscape – tariffs, supply-chain strain and higher interest rates driving up government and corporate borrowing. They discuss what it means for debt sustainability and bond markets, and how emerging economies can use stronger investor relations, transparency and domestic capital markets to attract long-term finance.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 partnerat 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.Sonja Gibbs is Managing Director and Head of Sustainable Finance and Global Policy Initiatives at the Institute of International Finance (IIF). She oversees the quarterly IIF GlobalDebt Monitor, which tracks debt-related vulnerabilities across mature and emerging economies, as well as the weekly IIF Insight on global financial markets. Her policy work includes engagement with the G20, the multilaterals and global regulators and standard setters. Sonja has spent over 20 years in banking and financial markets, most recently as Chief Equity Strategist at Nomura International in London, with earlier roles as a US economist and bank credit analyst in New York and Los Angeles.Production Paola SubacchiCoordination Nathalie CorvéeMusique Nils BertinelliHosted on Ausha. See ausha.co/privacy-policy for more information.

Sciences Po students Marius Guerin and Tom Krauthausen join Paola Subacchi to discuss what the G20 should prioritise as the United Kingdom prepares to take the chair in 2026. Drawing on their final projects for Paola’s course on managing sovereign debt, Marius and Tom bring fresh perspectives to the question of whether policymakers should focus on fixing debt crises once they erupt, or on preventing them before they begin.Hosts & GuestsPaola 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. Tom Krauthausen is a master's student at Sciences Po and the Stockholm School of Economics, specializing in International Economic Policy and Finance. His professional experience includes internships at the Boston Consulting Group and KfW Development Bank. Marius Guérin is a Sciences Po master's graduate, now working as a Junior Policy Analyst in the OECD's Development Co-operation Directorate. His previous experience includes internships in government and the private sector.Production Paola SubacchiCoordination Nathalie CorvéeMusique Nils BertinelliHosted on Ausha. See ausha.co/privacy-policy for more information.

Global debt is entering a more expensive and uncertain phase. Drawing on the OECD Global Debt Report 2026, Paola Subacchi talks to Nicolas Pinaud about theoutlook for sovereign and corporate debt, rising refinancing risks, and the growing burden of debt-servicing costs.They discuss how higher interest rates, inflation, tighter monetary policy, and geopolitical tensions are reshaping debt markets, especially for low-incomecountries. The conversation also explores the legacy of quantitative easing, the changing investor base in corporate bond markets, shorter maturities, and the role of EU bonds in strengthening Europe’s capital markets.HostPaola 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.GuestNicolas Pinaud is Deputy-Director, OECD Directorate for Financial and Enterprise Affairs. He is an experienced Advisor with a demonstrated history of working on domestic, international and multilateral economic affairs for more than 15 years at government level and in an international organisation (the OECD).Production Paola SubacchiCoordination Nathalie CorvéeMusique Nils BertinelliHosted on Ausha. See ausha.co/privacy-policy for more information.

In this episode, Paola Subacchi is joined by Nicolas Niarchos to explore the growing global race for critical metals, especially those powering the batteries behind our digital and green transitions. They unpack the supply chains at the core of modern life and ask a tough question: are richer economies simply exporting pollution to poorer countries?Focusing on metal-rich nations, they examine how years of neglect, state fragility, and predatory lending have left these countries unable to turn resource wealth into sustainable development – and what it would take to change that.Hosts & GuestsPaola 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. Nicolas Niarchos is a journalist whose work focuses on energy, war, and migration. He is the editor and co-founder of Now Voyager, a new magazine of international affairs. He has been a contributing writer at the New Yorker since 2014, where he initially started as a fact-checker. His reporting has also appeared in the Nation, the New York Times, and the Guardian.He is the author of The Elements of Power: A Story of War, Technology, and the Dirtiest Supply Chain on Earth (Penguin Press).Production Paola SubacchiCoordination Nathalie CorvéeMusique Nils BertinelliHosted on Ausha. See ausha.co/privacy-policy for more information.