Asian countries should implement reforms now, while their debt is sustainable, in order to head off a debt crisis.
Marcelo Giugale is the former Director of the World Bank’s Department of Financial Advisory and Banking Services—the team of professionals who help governments in emerging and developing countries manage their assets, their debts, and their risks. Also a former Director of country, sector, and practice departments, his more than thirty years of experience span the Middle East, Eastern Europe, Central Asia, Latin-America, and Africa, where he led senior-level policy dialogue and over thirty billion dollars in lending and insurance operations across the development spectrum. An Adjunct Professor at Georgetown University and a Fellow of the US National Academy of Public Administration, he has published on macroeconomic policy, finance, subnational fiscal rules, development economics, business, agriculture, and applied econometrics.
Notably, he was the chief editor of collections of policy notes published for the presidential transitions in Mexico (2000), Colombia (2002), Ecuador (2003), Bolivia (2006) and Peru (2006). In 2017, he authored the second edition of “Economic Development: What Everyone Needs to Know”, a featured volume by Oxford University Press. His opinion editorials have appeared in the leading newspapers and blog-sites of the USA, Europe, Latin-America, and Africa. He received decorations from the governments of Bolivia and Peru, and taught at the American University in Cairo, The London School of Economics, and the Universidad Católica Argentina. A citizen of Argentina, Italy and the USA, he holds a PhD and a MSc in Economics from The London School of Economics, and a Summa-Cum-Laude BA in Economics from Universidad Católica Argentina. You can watch his TED talk (“Ending Poverty”), and follow him on Twitter at @Marcelo_WB
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