New from me for Center for Global Development:

9 ideas to improve #AGOA

After 25 years, the African Growth and Opportunity Act is up for renewal next year. The China shock stifled its impact. The program limps along. Congress needs to renew it, but also reform it.

cgdev.org/blog/nine-idea…

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Closing plenary DebtCon: Interdisciplinary Sovereign Debt Research standing room only #sovereigndebt #debtcon #debtcon 7 𝙐𝙜𝙤 𝙋𝙖𝙣𝙞𝙯𝙯𝙖 Layna Mosley Martin Kessler Jeromin Zettelmeyer Karina Patrício Reza Baqir Finance for Development Lab PrincetonSovereignFinanceLab Institute of International Economic Law

My latest Project Syndicate OpEd on why we need more, not less, economic theory. But with one plea. We need to bring politics back into economic theory. With the rise of game theory this is possible in ways it wasn’t 100 years ago. Project Syndicate prosyn.org/iFxMUOC

Two out of four borrowers whose debt restructuring are ruled by the novel G20’s Common Framework shared their assessment of the framework at #DebtCon7 in Paris 🇫🇷 yesterday and today. Their reviews are rather sobering:

Layna Mosley makes the crucial point: geopolitics interacts with-does not displace-domestic politics. DebtCon: Interdisciplinary Sovereign Debt Research Martin Kessler 𝙐𝙜𝙤 𝙋𝙖𝙣𝙞𝙯𝙯𝙖 #debtcon 7 #debtcon #sovereigndebt Georgetown Law III Global Institute of International Economic Law closing panel 🥲

Our closing panel focuses on the geopolitics of #SovereignDebt . Benoît Cœuré, hamouda, Jeromin Zettelmeyer, Layna Mosley, Reza Baqir, Karina Patrício, and Armand Zorn will examine the impact of fragmentation, exploring costs, risks, and global coordination efforts.👇
buff.ly/3wTVcpu

Closing Panel at DebtCon7

Seen at ⁦Paris School of Economics⁩

Day 3 of #Debtcon7 : Anna Gelpern provides not only the tattoos, but also the best croissant in Paris. 𝙐𝙜𝙤 𝙋𝙖𝙣𝙞𝙯𝙯𝙖 Finance for Development Lab

Currencies frequently depreciate after an #election as the incumbent’s efforts to overvalue the currency in the run up to the election are unwound and the new government handles depleted reserves and current account woes.
Jeff Frankel Harvard Kennedy School
ow.ly/c2Nm50RB6pf

Now Anna Gelpern closes the panel. Existential questions- with practical consequence: are there many Frances 🇫🇷 as creditors (or Germany 🇩🇪 or China) and the many diverse private groups. Sequencing between them becomes arbitrage opportunity.

Plenary session with Sean Hagan and Brad Setser's recently published Peterson Institute proposal in debate at #DebtCon7
How much would it help accelerate debt treatments ?

#DebtAndTaxes : chaired by Silvia Marchesi, this session addresses industrial policy, inflation risk, debt sustainability, and tax revolts. Silvia Marchesi Matthias Goldmann Carlo Galli Monica Tran-Xuan, Ph.D. & Fernando Arce. #LiveStream 👇
buff.ly/454UnGN

'The #G20 framework... I do not think I want to recommend that to any country,' said #Ghana central bank chief Ernest Addison during DebtCon: Interdisciplinary Sovereign Debt Research event in Paris.

8am CET Mark Manger is leading a session on local currency financing incl. dollarization, sovereign ratings, & financial cycle transmission.Join Juan Sebastian Lopez Almirante, Andrés Neumeyer, Guilherme Suedekum, Haonan Zhou Marion Boisseau-Sierra, R. Chen, & Petachhi. Join online👇 buff.ly/4bIObXF

#DebtCon7 Day 3️⃣ 8am CET: Join Adil Ababou of Gates Foundation, Dr. Christina Laskaridis, Sayantan Ghosal, Alexandre Balduino Sollaci & Aitor Erce to discuss coordination and comparability issues in #DebtRestructurings 👇
buff.ly/3KkT9On

I sat down with 𝙐𝙜𝙤 𝙋𝙖𝙣𝙞𝙯𝙯𝙖 at today's #DebtCon7 and explained how The EBRD contributes to the systemic transformation of the public sector and creates the conditions for a thriving private sector.

Join Day 2️⃣ of #DebtCon7 w/ our Keynote Speaker Odile Renaud-Basso, President of the The EBRD, for an insightful conversation w/ 𝙐𝙜𝙤 𝙋𝙖𝙣𝙞𝙯𝙯𝙖: 'Transitioning to Market Economies & Reshaping the State’s role in the Economy'. Tune in to the #LiveStream at 16:30 CET👇 buff.ly/3wKsdEy

📚 #BookPresentation 🕙 11:30 CET: “The Debt Crisis of the 1980s” by Jérôme Sgard. Join 𝙐𝙜𝙤 𝙋𝙖𝙣𝙞𝙯𝙯𝙖, Anna Gelpern & Sean Hagan for a discussion on the law & political economy of the 1980s #DebtCrisis . 👇
buff.ly/3wWNzOV

. #DebtCon7 at Banque de France, on solvency and liquidity in a time of high interest rates.

Layna Mosley Finance for Development Lab 𝙐𝙜𝙤 𝙋𝙖𝙣𝙞𝙯𝙯𝙖 Anna Gelpern