IIPP PhD Workshop: Advanced Topics in Sovereign Debt Sustainability Analysis
Join UCL IIPP PhD Workshop with Professor Martín Guzmán.

PLEASE NOTE THAT THIS WORKSHOP IS ONLY AVAILABLE FOR IIPP PHD STUDENTS, IIPP RESEARCH FELLOWS AND INVITEES.
Debt Sustainability Analyses (DSAs) have major implications for debt negotiations. The outcomes of these negotiations have distributional consequences between the debtor and its creditors on the one hand, and amongst creditors on the other hand. DSAs are not only technical analyses – they are based also on assumptions that are essentially political – but may also affect the outcomes of debt negotiations. The study of the institutional and political frameworks under which DSAs are performed has been largely overlooked by the literature. This workshop provides a deep dive into Martín Guzman and Joseph Stiglitz’s paper analysis of the practice of DSAs, with a focus on the frameworks in which it occurs, the implications of the choices of assumptions, and the consequences for debt negotiations.
Workshop Agenda
14:00 pm - 14:30 pm - Session 1: Introduction to Debt Sustainability Analyses (DSAs)
14:30 pm - 15:00 pm - Interactive Discussion
15:00 pm - 15:15 pm - Break
15:15 pm - 15:45 pm - Session 2: IMF's DSA Practices
15:45 pm - 16:15 pm - Interactive Discussion
Readings:
- Guzman, Martin, Maia Colodenco, and Anahí Wiedenbrug. "Power in sovereign debt markets: debtors’ coordination for more competitive outcomes." Industrial and Corporate Change 33, no. 2 (2024): 507-518.
- Guzman, M. and Stiglitz, J. (2024) ‘The Practice of Sovereign Debt Sustainability Analysis’ . Series Debt Sustainability Assessments & Their Role in the International Financial Architecture. Available: https://library.fes.de/pdf-files/international/21393.pdf
Complementary Readings:
- Guzman, Martin, and Daniel Heymann (2015). “The IMF debt sustainability analysis: issues and problems.” Journal of Globalization and Development 6, no. 2: 387-404. (Note that this reading
* This reading is for those interested in a more technical aspect of the discussion
[[{"fid":"15837","view_mode":"small","fields":{"format":"small","alignment":"left","field_file_image_alt_text[und][0][value]":"Martín Guzmán","field_file_image_title_text[und][0][value]":"","field_caption_heading[und][0][title]":"","field_caption_heading[und][0][url]":"","field_caption[und][0][value]":"","field_float_left_right[und]":"none","field_file_image_decorative[und]":"0"},"type":"media","field_deltas":{"1":{"format":"small","alignment":"left","field_file_image_alt_text[und][0][value]":"Martín Guzmán","field_file_image_title_text[und][0][value]":"","field_caption_heading[und][0][title]":"","field_caption_heading[und][0][url]":"","field_caption[und][0][value]":"","field_float_left_right[und]":"none","field_file_image_decorative[und]":"0"}},"attributes":{"height":"557","width":"557","class":"media-element file-small media-wysiwyg-align-left"}}]]Martín Guzmán is a Professor at Columbia University’ School of International and Public Affairs (SIPE). He served as Minister of Economy of the Republic of Argentina (December 2019- July 2022). He is a leading global expert in the fields of sovereign debt and debt crisis resolution. His research focuses on the emergence, propagation, and resolution of macroeconomic disequilibria, monetary economics, and economic development. His research has been published in leading international journals and books. He is also a Professor of Money, Credit, and Banking at the National University of La Plata, Argentina. He is the co-President of the Initiative for Policy Dialogue (IPD), an academic center at Columbia University Business School established in 2000 by Nobel Laureate Joseph E. Stiglitz, which works to broaden dialogue and explore trade-offs in development policy by bringing the best ideas in development to policymakers facing globalization’s complex challenges and opportunities, and that strives to contribute to a more equitably governed world by democratizing the production and use of knowledge. He is a member of the Pontifical Academy of Social Sciences in the Vatican and a Young Global Leader of the World Economic Forum. He is also a Commissioner of the Independent Commission for the Reform of International Corporate Taxation (ICRICT). He holds a PhD. In Economics from Brown University, United States (2013). Prior to his doctoral studies, he received a B.A. in Economics (2005) and a M.A. in Economics (2007) from the National University of La Plata, Argentina.
Further information
Ticketing
Pre-booking essential
Cost
Free
Open to
UCL students
Availability
Yes