Distance Learning Seminar on Subnational Debt Management
The fourth distance learning seminar on Subnational Debt Management, co-sponsored by the Asia Pacific Finance and Development Center (AFDC) and the World Bank, was held on Sep 25, 2009. Over 30 participants from AFDC's Shanghai and Beijing offices, the China Development Bank, and the APEC Secretariat in Singapore and Mongolia DLC joined the seminar via the video conference system provided by the World Bank's Global Development Learning Network. The seminar was chaired by AFDC Deputy Director-Generals Yang Jinlin and Li Kouqing in Shanghai and Regional Coordinator for East Asia and the Pacific at the World Bank, Mr. Philip Karp, in Beijing.
Lili Liu, Lead Economist, Economic Policy and Debt Department of the World Bank, and Dr. Zhihua Zhang, Director of Local Government Debt Division of the Budget Planning Department of China’s Ministry of Finance made presentations on subnational debt management in developing economies and subnational debt risks, respectively. The two speakers introduced debt management features and experiences from both developing and developed economies, and provided their suggestions with regard to reform of local fiscal and financial systems in developing economies. Finally, participants commented and exchanged views on the topic.
Subnational debt is an important financing channel for infrastructure financing. In view of this, the AFDC and World Bank are planning to hold a seminar on this theme for developing economies some time next year.
