Welcome to the ninth episode of the Parliamentary Dialogue Series on Partnering for Global Impact, presented by the Parliamentary Network on the World Bank and the International Monetary Fund. This podcast special is brought to you from the 2024 Global Parliamentary Forum.

Join us as we engage in discussions with leading development experts and parliamentarians from around the world. Together, we'll explore how we can take decisive action to achieve a world free of poverty on a livable planet.

The podcast series is brought to you in partnership with the parliamentary engagement teams of the World Bank and IMF.

Session Background:

Rising debt levels in low-income developing countries threaten to cripple economic development progress. Crises like the pandemic and multiplying conflicts, combined with inflation and slowed economic growth, have strained public finances in developing countries, pushing more nations towards debt distress. Tools like the IMF’s Poverty Reduction and Growth Trust (PRGT) and the International Development Association (IDA) are essential. The session will:

• Analyze the impact of rising debt on development progress

• Explore strategies for debt alleviation and sustainable debt management

• Advocate for replenishing the PRGT and IDA to secure their critical role in creating a future where development thrives, rather than succumbing to debt

Moderator: Hon. Tony Loffreda, Senator, Canada

Opening Remarks: H. E. Emmanuel Sinzohagera, Senator and Speaker of the Senate, Burundi

Speakers: Akihiko (Aki) Nishio, Vice President of Development Finance, World Bank; Guillaume Chabert, Deputy Director, Strategy, Policy and Review Department, IMF; Xochitl Sanchez, Director of the Secretariat, ACTION

Parliamentarian Speakers: Hon. Estelle Youssouffa MP, France; Hon. Volkmar Klein MP, Germany