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August 1, 2024
Remarks in Reuters Special Report on Africa’s Debt Bomb
"The episode shows how developing countries are stuck between two undesirable options for development financing, Souvannaseng said. With long-term, low-cost multilateral lenders like the World Bank, she said, the “the bureaucratic process … to get money — it’s long, it’s tedious, a lot of them find it very humiliating.” But the “high risk, high reward” international bond market, while a quick source of money, “is first and foremost concerned with yield, not with developmental aims,” she said."