he Covid-19 pandemic, which coincided with a quantitative loosening and lowering of interest rates, led to public debt piling up across the globe, but especially in the Global South. The war in Ukraine only compounded the problem, as interest rates rose, further increasing borrowing countries’ vulnerability to default. As the dollar appreciates in value, countries across the globe face looming external debt crises, which reinforces the uneven power dynamics of the international system. Martin Guzman has firsthand knowledge of such crises. From 2019 to 2022, he served as Argentina’s Minister of Economy, where he managed a sovereign debt crisis that included the second largest debt restructuring in history. Guzman will share his thoughts on how countries can manage these crises going forward. He also will address ways to make the global financial system and its regulatory frameworks more fair going forward.
