The OMFIF Podcast

US dollar dominance: Is there no alternative?

Max Castelli, head of strategy, sovereign institutions at UBS Asset Management, joins Taylor Pearce, senior economist at OMFIF, to discuss the role of the dollar as a global reserve currency in a multipolar world. They discuss factors such as China’s rise in power, sanctions risk and the development of alternative payments systems and how these could challenge dollar dominance. They also discussed the recent surge in gold and Bitcoin prices in the context of currency diversification for institutional investors.  

Whether or not the introduction of CBDCs will impact central banks’ reserve management strategies will be explored in OMFIF’s forthcoming Global Public Investor 2024 report, along with other asset and currency allocation trends. 

Geopolitical risks: What’s at stake for investors?

Taylor Pearce, senior economist, Economic Monetary Institute at OMFIF, hosts Elliot Hentov, head of macro policy research at State Street Global Advisors, to discuss the interplay between geopolitics and financial markets. Hentov outlines several risk factors that could impact markets – including geopolitical shocks, risk premium repricing and the upcoming US election – and what investors are doing as a result. 

Greece’s landmark debt restructuring – What happened and why it matters

Charles Dallara,  ex-managing director of Institute of International Finance, talks about his book Euroshock, explaining how the 2012 Greek debt restructuring  helped save European economic and monetary union from breakdown.   A conversation with David Marsh and Burhan Khadbai.

The history of dollar dominance and weaponisation

Saleha Mohsin, senior Washington correspondent for Bloomberg News joined Mark Sobel, US chair at OMFIF, to discuss her recently published book, Paper Soldiers: How the Weaponization of the Dollar Changed the World Order. She discusses how secretaries of the Treasury of past decades managed communications about the dollar and how the department developed and deployed financial sanctions based on the dollar's globally dominant role.

Pre-validation: combatting fraud and minimising errors in payments

Cian O’Murchu, head of strategic transformation, Mireia Guisado-Parra, pre-validation product owner at Swift and Julien Lasalle, head of cashless payment monitoring at Banque de France, join Lewis McLellan, editor of OMFIF’s Digital Monetary Institute. Together, they discuss the implementation of pre-validation – a new tool developed to reduce the number of errors in payments and restore people's trust in their ability to safely pay for goods and services online.

Analysing Romania’s landmark debut green bond

Stefan Nanu, head of public debt management and state treasury at the ministry of finance of Romania, joins Burhan Khadbai, head of content at OMFIF’s Sovereign Debt Institute, to discuss Romania’s long-awaited inaugural green bond, which was the most successful ever euro-denominated bond in this format by an emerging market issuer. As well as the record-breaking deal itself, they also cover Romania’s ambitious transition plan and the key features of its green bond framework

Why gender equality in financial institutions is macro-critical

Monique Newiak, deputy unit chief, inclusion and gender, and Mariarosaria Communale, economist at the International Monetary Fund, join Arunima Sharan, senior research analyst at OMFIF’s Economic and Monetary Policy Institute, to discuss the state of gender balance in financial institutions. They examine the IMF’s gender strategy, the macro-criticality of gender equality and findings from their recent publication, 'Who are Central Banks? Gender, Human Resources, and Central Banking'. 

The views expressed by the speakers in this podcast do not necessarily represent the views of the IMF, its executive board or management.

Global public investor outlook 2024: Another ‘rollercoaster’ year?

Max Castelli, head of strategy, sovereign institutions, and Philipp Salman, director of strategy and advice, global sovereign markets, UBS Asset Management, join Taylor Pearce, senior economist at OMFIF, to discuss what’s in store for global public investors in 2024. The discussion identifies opportunities and risks for reserve managers and sovereign wealth funds amid evolving market dynamics, including falling inflation, headwinds to China’s economy and a resilient US economy albeit looming political risks.  

You can find the full transcript here.

Safeguarding the future: why organisations need ESG data

Environmental, social and governance data is integral to scaling up sustainable finance and investment. With increasing regulation and demand for information, it’s also crucial for organisations and businesses. Sherry Madera, chief executive officer of CDP, joins John Orchard, OMFIF chief executive officer, to discuss how data can improve the quality of a company, how datasets are evolving to support the mobilisation of institutional investor demand in ESG assets and the importance of data to leadership.

 

To find out more, Madera’s book Navigating Sustainability Data: How Organizations can use ESG Data to Secure Their Future is now available to buy.

Next steps for the EU’s evolution in bond markets

Siegfried Ruhl, hors classe adviser to the director-general for budget at the European Commission, joins Burhan Khadbai, head of content at OMFIF’s Sovereign Debt Institute, to discuss upcoming priorities for the European Union as it continues its rapid journey towards sovereign status in the capital markets.

They discuss the EU’s recent launch of quoting commitments for its primary dealers and the EU Issuance Service, as well as plans to launch a repo facility and futures market. The discussion also touches on the evolution of the EU’s investor base and its status as a safe asset and global benchmark.