DebtTalks
How do countries incur in debt? And why does debt become unsustainable? How debt crises are triggered, and how a small nation managed to bring the Euro area on the edge of collapse? I am Paola Subacchi (https://www.sciencespo.fr/psia/sovereign-debt/the-team/), and this is DebtTalks, the podcast of Sciences Po Chair in Sovereign Debt and Finance. With my guests I’ll be discussing the economics and politics of debt, exploring past and current episodes of debt distress, examining legal controversies, and much more. Join us for the latest insights and stay tuned on DebtTalks. Hosted on Ausha. Se...
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Debt at the tipping point: warning signs and viable options
<p>In this episode of DebtTalks, Paola Subacchi and Martin Kessler explore what happens when a country begins to face mounting debt pressures. What are the early warning signs, and when does concern turn into crisis? The discussion also delves into the options available to heavily indebted countries – from restructuring to relief – and take a closer look at how the IMF’s Debt Sustainability Analysis shapes decisions along the way.</p><p>Hosts & Guests</p><p> </p><p>Paola Subacchi is Professor and Chair in Sovereign Debt and Finance at Sciences Po, and Professor of Political Economy of Europe at the Uni...
Mobilising capital for economic transformation in Latin America
<p>Episode 13 of DebtTalks dives into how Latin America can unlock domestic finance to power - funding major infrastructure while supporting SMEs - to the rise of innovative tools like green and thematic bonds in the Caribbean, the episode explores what’s working across a diverse region.<br><br>With debt costs squeezing fiscal space, the conversation highlights the urgent need for cheaper financing. It also underscores the importance of stronger multilateral cooperation - moving beyond siloed approaches - to scale impact and drive sustainable development.<br><br>Paola Subacchi is Professor and Chair in Sovereign Debt and Finance at Sc...
From crisis bonds to long-term investment: financing Europe’s future
<p>As the European Union has emerged as a major bond issuer since the Covid-19 pandemic, this episode explores the fast-growing market for sovereign, sub-sovereign and supranational debt. Paola Subacchi and Lawrence Duquesne-Garner trace the EU’s journey as a bond issuer, revealing how crisis-driven financing is turning into a long-term investment strategy.</p><p> </p><p>Hosts & Guests <br><br>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 gove...
Retrenching aid in a volatile world
<p>As advanced economies cut international aid, Paola Subacchi and Clemence Landers assess the consequences for developing countries and the global economy. As funding declines, the risks multiply: an aid crisis can deepen debt distress, evolve into a broader development crisis, and ultimately trigger governance breakdowns. At stake is the very purpose of foreign assistance – preventing instability, economic collapse, and governance breakdown.</p><p><br></p><p>Hosts & Guests</p><p>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...
Inside Africa’s debt toolkit
<p>In this episode Paola Subacchi and Barthélemy Faye explore the shifting landscape of finance for development in Africa. As countries expand their access to capital markets and diversify funding sources, new financial tools are reshaping how debt is managed. At the forefront are debt swaps, which replace expensive debt with cheaper, more flexible financing – creating fiscal space while supporting critical development priorities.</p><p><br></p><p><b>Hosts & Guests</b></p><p>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 Bol...
Debt in a low-growth world
<p>This episode features Paola Subacchi in conversation with former EU Commissioner Paolo Gentiloni. They explore how ageing, climate pressures and, more recently, defence spending are driving public debt higher, while growth remains elusive and interest rates stay relatively high. The discussion revisits Europe’s response to the sovereign debt crisis and Covid, before turning to a largely overlooked challenge in developing countries – “defaulting on development.”</p><p>Paolo Gentiloni is Co-Chair of the UN Group of Experts to promote policy solutions to resolve the debt crisis in developing countries. From 2019 to 2024, Mr Gentiloni was European Commissioner for Economy. He served a...
Closing the financing gaps: innovative finance for developing countries
<p>Join Paola Subacchi and Guillaume Arditti for a lively and engaging conversation on financial constraints that developing countries face – and how innovative financial tools can help unlock the funding they need to drive development.</p><p><br></p><p><b>Guillaume Arditti</b> is a founding partner of Belvedere Advisory, a strategic and financial consulting firm dedicated to emerging markets. Since January 2024, he has also been an associate researcher at the Jacques Delors Institute, specializing in EU-Africa relations. He began his career at the Agence Française de Développement (AFD) in South Africa, before holding leadership roles at Natixis...
Advancing global financial reforms in a turbulent multilateral context
<p>Join Paola Subacchi and Piera Tortora for an in-depth discussion on how international policy cooperation can respond to pressing global challenges, including debt and climate. The episode also explores the Pact for Prosperity, People and the Planet – a global coalition established at the 2023 Summit for the New Global Financing Pact – and its potential to drive meaningful reforms of the international financial architecture.<br><br><b>Piera Tortora</b> serves as Head of the Secretariat of the Paris Pact for People and the Planet (4P), a global alliance of 68 countries advocating for international financial reform. A veteran of the OECD (2011–2024), she pre...
What’s next for Ukraine ?
<p>In this episode DebtTalks departs from our usual long-view approach to engage directly with the latest headlines. Paola and Elina Ribakova explore the financial options available to Ukraine amid intense political uncertainty.<br></p><p><b>Elina Ribakova</b> is Non-resident Senior Fellow at the Peterson Institute for International Economics and a Director of the International Affairs Program and Vice President for foreign policy at the Kyiv School of Economics.<br></p><p><b>Paola Subacchi</b> is Professor and Chair in Sovereign Debt and Finance at Sciences Po, and Professor of Political Economy of Europe at the University...
Finance for social good : the Council of Europe Development Bank
<p>In this episode Paola Subacchi and Carlo Monticelli explore the transformative role finance can play in driving social change. Carlo shares insights into the Council of Europe Development Bank’s mission to promote investment that empowers communities often left on the margins and helps prevent marginalisation. The conversation highlights how financial tools can be harnessed not merely to generate economic growth, but to foster stronger, more inclusive communities across Europe.<br></p><p><b>Carlo Monticelli</b>, an Italian national, was elected Governor of the CEB by the Bank’s member states on 11 June 2021 after serving for six years as Vic...
