The COVID-19 crisis has led to a sudden collapse in capital flows to emerging and developing countries, who now face problems servicing their external debts while addressing the growing economic strain of the pandemic. Immediate action is needed to prevent disorderly defaults, litigations, and a collapse in the international debt market.
In this webinar, a subset of authors of a recent CEPR Policy Insight, Patrick Bolton, Lee Buchheit, Mitu Gulati, Pierre-Olivier Gourinchas, Ugo Panizza and Beatrice Weder di Mauro explain why low- and middle-income countries are particularly vulnerable, discuss what is at stake for the world economy, and present a mechanism to implement a debt standstill which would free significant resources to cover some of the more immediate costs of the COVID-19 crisis.
Patrick Bolton, Barbara and David Zalaznick Professor of Business at Columbia University, Imperial College and Fellow, CEPR.
Lee Buchheit, Honorary Professor, University of Edinburgh Law School.
Pierre-Olivier Gourinchas (@pogourinchas), Professor of Global Management and Director, Clausen Center for International Business and Policy, UC Berkeley; CEPR Research Fellow.
Mitu Gulati, Professor of Law, Duke Law School, Duke University.
Ugo Panizza (@upanizza), Professor of Economics and Pictet Chair at the Graduate Institute, Geneva; CEPR Vice president and Research Fellow.
Erik Berglof (@ErikBerglof), Director, Institute of Global Affairs, LSE School of Public Policy and Fellow, CEPR.
Beatrice Weder di Mauro (@bweder), Professor of International Economics, Graduate Institute of Geneva; Distinguished Fellow, INSEAD Emerging Markets Institute, Singapore; President, CEPR.
This event has been organised by the Institute of Global Affairs, the School of Public Policy and the Centre for Economic Policy Research (CEPR).
Twitter Hashtag for this event: #LSECOVID19
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