Webinar Link

Meeting No: 2510 207 4790
Password: debt

Certificate of Participants

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Abstract

The global economy is grappling with a rapidly rising debt burden that threatens financial stability, growth, and development prospects worldwide. Public and private debt levels have climbed to historic highs—accelerated by the COVID-19 pandemic, high interest rates, and persistent fiscal pressures. Many low- and middle-income economies now face mounting debt-servicing costs, shrinking fiscal space, and growing vulnerability to external shocks. These pressures are compounded by currency volatility, tightening global monetary conditions, geopolitical uncertainties, and increasing demands for climate-related spending.

The webinar will involve deliberations on these mounting risks, provide insights from experts and policymakers, and explore potential solutions to enhance debt transparency, strengthen international cooperation, and promote sustainable growth pathways.

About the Speaker

Surjit Bhalla

Dr. S.S. Bhalla, is a Senior India Analyst for the Observatory Group, a New York based macroeconomic policy advisory firm and Chairman of Oxus Research & Investments. In 2017, he was appointed as Member of the Prime Minister’s Economic Advisory Council. He has been a member of the Secondary Markets Advisory Committee of SEBI and the National Statistical Commission of India. Dr Bhalla writes extensively on economic issues and has recently authored another book titled, The New Wealth of Nations.

Indermit Gill

Indermit Gill is Chief Economist of the World Bank Group and Senior Vice President for Development Economics.

Before starting this position on September 1, 2022, Gill served as the World Bank’s Vice President for Equitable Growth, Finance, and Institutions, where he helped shape the Bank’s response to the extraordinary series of shocks that have hit developing economies since 2020. Between 2016 and 2021, he was a professor of public policy at Duke University and non-resident senior fellow at the Brookings Institution’s Global Economy and Development program.

Gill led the World Bank's influential 2009 World Development Report on economic geography. His work includes introducing the concept of the “middle-income trap” to describe how countries stagnate after reaching a certain level of income. He has published extensively on key policy issues facing developing countries—among other things, sovereign debt vulnerabilities, green growth and natural-resource wealth, labor markets, and poverty and inequality.

Gill has also taught at Georgetown University and the University of Chicago. He holds a Ph.D. in economics from the University of Chicago