Conference’s Presentation

The objective of the conference is to present the challenges of the extension of the crisis to emerging and developing countries for their financing, and the adaptation of those countries and donors in order to cope with it.

Roundtable 1 – Financial and macroeconomic factors underpinning the crisis

The crisis which started in the financial sphere has developed to affect the real economy and has spread to emerging and developing countries through various channels. Under the presidency of Mr. Daniel Cohen, Professor of Economics at the ENS, this panel will provide an analysis on how the financial crisis affects the real economy and on how it spreads to emerging and developing countries and through which channels.

Mr. , Governor of the Banque de , will notably explain the macroeconomic and financial factors underpinning the crisis and the economic policies adopted to cope with it. Mr. John Lipsky, First Deputy Managing Director at the IMF, will particularly focus on the channels through which emerging and developing countries are affected. Finally, Mr. Jean Lemierre, Adviser to the President at BNP Paribas, will present the implications of the crisis for private sector and for banks’ investment strategies in emerging and developing countries at the global level.

Roundtable 2 – Impacts of the crisis on emerging markets: liquidity squeeze and balance of payments vulnerabilities in emerging countries

The sharp fall in capital flows as well as the decrease in global demand have led to balance of payments vulnerabilities in emerging economies whereas, in the meantime, access to capital markets has tightened.

Emerging countries, with the support of the international community, have mobilized to face those challenges and to work out original strategies to avoid the diffusion of the crisis. Under the presidency of Mr. Benoît Coeuré, Co-Chair of the Paris Club, representatives from emerging countries and donors (multilateral and bilateral) will present their response to the crisis. Experiences from Asian and European regions will be analysed.

Mrs Sri Mulyani Indrawati, Minister of Finance and Coordinating Minister for Economic Affairs, will present the Indonesian economic strategy to cover its financing needs and to reassure its boosting plan. Mrs Isabel Guerrero, South Asia Vice President at the World Bank, as well as representatives of Australia and Japan will testify of the support of the international community to emerging economies, especially in Asia.

For Europe, Mr. András Simor, Governor of the Central Bank of Hungary, will present his country’s strategy to cope with the crisis and Mr. Erik Berglöf, Chief Economist and Special Adviser to the President at the European Bank for Reconstruction and Development, will explain in detail how the EBRD supports European countries. Both will particularly focus on the involvement of private sector in crisis prevention in East European countries.

Roundtable 3 – ew financing challenges in low-income countries (LICs)

LICs are highly exposed to the current global downturn due to their increasing commercial and financial integration. With their limited access to private financing, they are facing specific challenges to cover their increasing financing needs.

Under the presidency of Mr. Patrick Guillaumont, Professor at the Centre d’Etudes et de Recherches sur le Développement International (CERDI), stakeholders will debate on how LICs are dealing with this situation and the specific response of the international financial community.

Mr. Essimi Menye, Minister of Finance of Cameroon, will present the economic strategy of his country while Mr. Paul A. Acquah, Governor of the Bank of Ghana, will explain in detail Central Banks’ role and instruments to support the economy in LICs.

Beside them, representatives of bilateral and multilateral donors will explain how they articulate their action to respond to the new financing challenges of LICs. Mr. Donald Kaberuka, President of the African Development Bank, as well as Mr. Otaviano Canuto, Vice President, of the Poverty Reduction Management Network of the World Bank, and Mr. Klaus Rudischhauser of the European Commission, will detail the new instruments and the on-going debate within their institutions to adapt their international aid for LICs to the new context.