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Marcelo Maria Giugale,Phd MARCELO MARIA GIUGALE, PHD 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. A former Director of country, sector, and practice Departments, and an international development leader, his 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 are published 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 and Italy, 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 WORK EXPERIENCE March 2017 to World Bank, Director of the Financial Advisory and Banking Services October 2020 Department Headed a team of some 50 senior finance professionals who manage over $25 billion dollars in central bank reserves, sovereign wealth funds, and pension endowments for more than 70 developing countries. With an internal budget of just over $30 million, the team has been a pioneer in helping governments hedge meteorological, geological and commodity risks, and implement debt management strategies that give sustainability to their fiscal accounts. November 2015 to World Bank, Senior Economic Adviser of the Cluster of Global Practices March 2017 Equitable Growth, Finance, and Institutions Advised the Cluster of Global Practices at the strategic, policy, technical, and communication levels. The Cluster is composed of 2,000-plus specialists in macroeconomics, finance, trade, poverty, and institutions. It manages an annual lending pipeline of some $18 billion, a project portfolio worth $26 billion, and just under one thousand pieces of analytical work per year. July 2014 to World Bank, Senior Director of the Global Practice for Macroeconomics and October 2015 Fiscal Management. Managed the Global Practice that houses the 300-plus macroeconomists of the World Bank Group, working in some 120 client countries. The Practice delivers the institution’s policy positions on global economic issues, $7 billion a year in fast- disbursing lending, and over two hundred pieces of advisory and analytical work— all with an administrative budget of around $75 million. February 2011 to World Bank, Director of Economic Policy and Poverty Reduction for Africa June 2014 Headed a department of some 200 professional staff in charge of the Bank’s advisory and lending services in Africa, with focus on growth, fiscal, monetary, and debt policy; public sector governance and institutional development; trade and integration; and poverty, inequality and gender. With an annual budget of US$ 30 million, the department delivers about US$ 2 billion per year in concessional lending; supervises a US$ 1 billion portfolio of projects; and publishes some 50 major reports. July 2007 to World Bank, Dual Director of Economic Policy and Poverty Reduction, January 2011 and of Finance and Private Sector Development, for Latin-America. Managed a department of 120 professional staff in charge of the Bank’s advisory and lending services in Latin-America, with focus on macroeconomics; state- capacity; financial markets, business environment and regulation; and equity. The department produced about US$ 4 billion per year in new IBRD loans; oversaw the implementation a US$ 5 billion portfolio of projects; and delivered 40 publications annually—all with an annual budget of US$ 30 million. Dec. 2002 to World Bank, Director for the Andean Region June 2007 Managed the four-country department in charge of the World Bank’s assistance program to the Andean region. With some 100 staff located in five different capital cities, and a US$ 15 million annual operational budget, the department delivered some US$ 800 million in new, IBRD and IDA loans per annum, built a US$ 2 billion project portfolio, and generated US$ 5 million worth of analytical and advisory services every year. Oct. 2000 to World Bank, Lead Economist and Sector Leader for Colombia, December 2002 Mexico, and Venezuela Managed the three-country department’s economic program through a core staff of six senior economists, five support staff, and an extended country team of twenty- five development professionals. With an annual administrative budget of some US$3 million, provided economic supervision of a US$20 billion accumulated loan exposure, a US$2 billion yearly lending flow, a US$6 million analytical program, and a multi-sector project portfolio that included a US$400 million Fiscal Adjustment Loan for Colombia and a US$300 million Tax Reform Loan for Mexico. Sept. 1998 to World Bank, Lead Economist for Mexico Sept. 2000 Headed a multi-disciplinary team of professionals that saw to the development and poverty-reduction rationale of the Bank’s Country Assistance Strategy in Mexico; US$12 billion loan portfolio; US$1.5 billion annual lending flow; and US$2 million 2 annual program of economic analysis. Managed and supervised the delivery of a varied lending program, including a US$600 million Decentralization Adjustment Loan and a US$500 million Estado de México Structural Adjustment Loan (the first subnational budget-support operation in the Bank’s history). Jan. 1998– World Bank, Principal Economist for Central Asia and Baltics Regions Aug. 1998 Headed group of economists and statisticians in charge of the Bank’s economic policy advice, non-lending services, and economic development underpinning of its US$1.5 billion loan portfolios in Kazakhstan and Lithuania. June 1995– World Bank, Senior Economist for the Baltics Region Dec. 1997 Responsible for the Bank's economic transition advisory role in Lithuania, for the related US$80 million Structural Adjustment Loan operation, and for the economic strategy of the Bank's US$250 million investment portfolio in the country. July 1992– World Bank, Senior Resident Economist in Cairo, Egypt June 1995 Headed a team of economists, financial officers and researchers that supplied the analytical basis and intelligence for the management of the World Bank's US$2.2 billion investment portfolio in Egypt and provided in-situ advice to the Egyptian Government's Cabinet of Ministers on its economic reform efforts (including a first- ever, US$300 million Structural Adjustment Loan). Oct. 1991– World Bank, Country Economist for Lebanon June 1992 Led the World Bank's economic work in post-war Lebanon; in particular, provided the economic rationale for the Bank's and other international donors' 1992 Emergency Reconstruction Project (a US$0.5 billion package). Aug. 1990– World Bank, Country Economist for Egypt Sept. 1991 Co-designer of Egypt's economic reform program, backed by a US$450 million joint World Bank-International Monetary Fund financing package. Sept. 1989 Joined The World Bank through its Young Professional Program June 1986– Economic Editor in London for the Radio Show "Nuevo Dia" July 1988 (New Day) broadcast by "Radio del Plata" of Buenos Aires, Argentina. ACADEMIC APPOINTMENTS: January 2020 – Adjunct Professor of International Finance, Georgetown University Present Graduate lecturing in Macroeconomic Policy in a Financially-Integrated World Aug. 1993– Professor of Economics, American University Cairo June 1994 Part-time graduate lecturing in Finance for Developing Countries. Aug. 1988– Lecturer in Finance, The London School of Economics August 1989 Graduate lecturing on Financial Decision Analysis and Corporate Finance. March 1985– Professor of Economics, The Argentine Catholic University 3 July 1985 EDUCATION 2003 New Management Leadership Program, Harvard Business School, Harvard University 2000 Executive Development Program, Harvard Business School, Harvard University 1989 Ph.D. in Economics, The London School of Economics 1987 M.Phil. in Economics, The London School of Economics 1986 Master of Science in Economics, The London School of Economics 1984 BA in Economics, Argentine Catholic University, Buenos Aires BOOKS Giugale, Marcelo. 2017. Economic Development—What Everyone Needs to Know, 2nd Edition, New York: Oxford University Press. Giugale, Marcelo. 2014. Economic Development—What Everyone Needs to Know, 1st Edition, New York: Oxford University Press. Canuto, Otaviano, and Marcelo Giugale, eds. 2010. The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World, Washington DC: World Bank Publications. Molinas, Jose R., Ricardo Paes de Barros,
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