Events
GPI Exchange: Growth, investment and debt in developing countries
The Global Policy Institute, GPI, held an event on November 13 featuring Dr. Emilio Sacerdoti, formerly a senior IMF official and now an international development consultant, titled “Growth, Investment and Debt in Developing Countries”. Paolo von Schirach, GPI President, delivered opening remarks. Sacerdoti discussed how the key challenge for developing countries, in their pursuit of sustainable economic growth, is to ensure a steady flow of investment, without excessive accumulation of public debt, and in particular external debt.
He presented and discussed macroeconomic data about several countries in Africa, the Middle East, Central Asia, and Latin America. He showed how higher economic growth is generally (but not always) associated with higher level of investments. He pointed out how highly indebted countries represent a significant risk for foreign investors. Sacerdoti also stressed that, in order to attract investors, governments should make serious efforts to establish a good “business climate” through the enactment of laws and rules that ensure the availability of basic public services, transparency in all business transactions, fair taxation levels, and the rule of law.
Watch short video here