June 14, 2023
Event
Managing Public Debt and Economic Challenges
with Asonuma Tamon
Date
June 14, 202311 am - 12 pm
Location
Elinor Ostrom HallDIW BerlinMohrenstr. 5810117 BerlinSpeakers
Asonuma Tamon, Josefin MeyerJoin us for an insightful presentation on the global impact of COVID-19 on public debt and the challenges it poses for policymakers. This lecture explore the effectiveness of different approaches to reducing debt-to-GDP ratios, considering econometric analyses and historical experiences. Followed by a discussion.
Key findings include:
- Fiscal consolidations: Timely and well-designed fiscal adjustments, preferably during economic expansions, can significantly reduce debt ratios. Structural reforms and strong institutional frameworks further enhance the debt-reducing effects, although these conditions may not always be present
- Comprehensive approach: When a country faces debt distress, combining significant debt restructuring, fiscal consolidation, and policies to support economic growth proves effective in reducing debt ratios. Coordination among creditors is vital for success.
- Growth and inflation: Historical evidence suggests that economic growth and inflation have contributed to reducing debt ratios.
The event language will be English.
Asonuma Tamon - Economist, International Monetary Fund
Tamon Asonuma is an Economist in the Systemic Issue Division in the IMF Research Department. Before joining the Research Department, he worked in the Strategy Review and Policy Department contributing to series of the IMF Policy Papers on sovereign debt restructurings and sovereign-bank linkages, and involving in many debt restructuring cases (Greece, Myanmar, Belize, Cyprus) as an expert. He holds a PhD in Economics from Boston University and his research interests are in macroeconomics, international finance, and public finance. He is particularly interested in sovereign debt and financial crises, and exchange rate regime. He has published in several academic journals, among which the Journal of the European Economic Association, Journal of Asian Economics, Review of Development Economics, Asian Development Review.
Register
To register for this event please send an e-mail to jmeyer@diw.de
Topics: Financial markets , Monetary policy , Public finances
