The Global Financial Crisis and the Covid pandemic have led to rapid debt accumulation in both advanced and developing economies.
According to debt sustainability analyses conducted by the World Bank and the International Monetary Fund, nearly 60% of low-income countries are either in debt distress or at high risk of debt distress and several middle-income countries are facing challenges linked to the presence of foreign currency debt and a rapidly appreciating US dollar.
In the meantime, both advanced and developing economies need to finance massive investment for climate change mitigation and adaptation.
How can climate-related investment be scaled up without avoiding destructive financial crises which tend to be particularly costly for the poorer segments of the population?
Ugo Panizza, Professor of International Economics at the Geneva Graduate Institute and Pictet Chair in Finance and Development, will discuss these issues with Marcello Estevão, Global Director of the Macroeconomics, Trade and Investment Practice at the World Bank Group.
The event is jointly organised by the Geneva Graduate Institute's Centre for Finance and Development and the World Bank Group.