Washington, DC  Economic Festival

April 17-20, 2024



Rising geopolitical tensions and increasing protectionism have heightened the risk of economic fragmentation, even as the global economy remains deeply interconnected through international trade, supply chains and capital flows. 

To deliberate on the prevailing dynamics shaping the global economic landscape, our  global macro sessions will delve into three pivotal areas: the underlying drivers of the resurgence of the US economy, (i.e., monetary, fiscal and industrial policy), the evolving economic prospects of the Eurozone, and Europe’s ability to build a new competitive model and increase its growth potential in today’s context of global tensions and scarce resources.

Monetary policy currently faces several challenges with considerable uncertainty. Confronted with the resurgence of inflation around the globe, many central banks tightened their stance in recent years. As such, in real time, it is challenging to know when monetary policy has settled on a position that brings inflation down to the central bank inflation targets. There is also continuing debate about current financial stability risks and about the interactions of monetary policy with fiscal policies.

The discussions will also consider a forward-looking agenda for emerging countries. Emerging market (EM) central banking has undergone a major transformation in the past two decades, which has served these economies well during post-Covid high inflation.

We will continue to explore the state of CBDC. Accelerating innovations are shaping payments and finance, generating both benefits and risks. We will be looking at current experiments in various regions – focusing on Central Asia and the Caucasus and examining what is needed in terms of regulation.


April 17


Check-in/Registration and Buffet Lunch



Exploring the Frontier: AI’s Impact on the Financial Landscape (Panel Bios)

Chair: Daniela Muhaj, Inaugural Associate Director For Research and Technology Initiatives, Georgetown University

Oliver Wuensch, Partner, Oliver Wyman

Kyle S. Hauptman, Vice Chairman, National Credit Union Administration 

Timur Turlov, CEO and chairman of the Board, Freedom Holding Corp.



Coffee Break


CBDC, Cross Border Payment in Practice: Current Update and Potential Macro Implications (Panel Bios)


Chair: Andrew Torre, Regional President for Central & Eastern Europe, Middle East & Africa Region, Visa

Martin Galystan, Governor Central Bank of Armenia

Andrea M. Maechler, Deputy General Manager, BIS

Binur Zhalenov, CEO National Payment Corporation, Kazakhstan 

Subir LallDeputy Director, Central Asia and Middle East Department, IMF

April 18



Check-in and Welcome Remarks

Marc Uzan, Executive Director, Reinventing Bretton Woods Committee


Fire Side Conversation with James Bullard (Panel Bios)

Chair: Jonathan Pingle, Chief US Economist, UBS

James Bullard, Dr. Samuel R. Allen Dean of the Mitchell E. Daniel Jr. School of Business, Distinguished Professor of Service and Professor of Economics, Special Advisor to the President, Purdue University. Former President Federal Reserve Bank of Saint Louis


Coffee Break


Blueprints for the Future Monetary System: CBDC, Tokenisation and Unified Ledgers-Theory and Practice (Panel Bios)

Chair: Ousmene MandengSenior Advisor, Accenture

Miguel Diaz, Head Innovation Hub Toronto Centre, BIS

Xiaonan Zou, Head of Innovation and Digital Assets, Group Treasury, UBS

Dong He, Deputy Director, Monetary and Capital Markets Departments, IMF

Paul Castillo, General Manager, Reserve Bank of Peru


The Global Economy and Global Financial Stability in the Key Currencies Areas (Panel Bios)

Chair: Arend Kapteyn, Global Chief Economist, UBS

Jason Wu, Assistant Director, Global Market Analysis, IMF

Gian Maria Milesi-Ferretti, Senior Fellow, Hutchins Center on Fiscal and Monetary Policy

Nicola Giammarioli, Member of the Management Board, Secretary General, European Stability Board

Albert Park, Chief Economist, Asian Development Bank



Buffet Lunch


Europe’s Competitiveness Challenges (Panel Bios)


Chair: Reinout De Bock, Head of European Rates Strategy, UBS

Gediminas Šimkus, Governor, Central Bank of Lithuania

Debora Revoltella, Chief Economist, EIB

Mario CentenoGovernor, Central Bank of Portugal

Lord Jonathan Hill, Former EU Commissioner Financial Services


Coffee Break


EMERGING MARKETS: The Great Catchup of Emerging Market Central Banking (Panel Bios)


Chair: Elina RibakovaHead, Senior Fellow PIIE and Bruegel 

Part 1 (15:00-16:00)

Jonathan Heath, Deputy Governor, Central Bank of Mexico

Boris Vujcic, Governor, National Bank of Croatia

Rashad Cassim, Deputy Governor, Reserve Bank of South Africa

Barnabás Virág,  Deputy Governor Magyar Nemzeti Bank

Piroska Nagy Mohacsi, Visiting Professor, LSE

Part 2 (16:00-16:30)

A Conversation on the Future of the Global Economy and Monetary System: The Search for Resilience (Panel Bios)

Chair: Massimiliano Castelli, Managing Director, UBS Asset Management

Hyun Song Shin, Economic Advisor, BIS

April 20



Check-in and Welcome Coffee


Update on the State of Play of the Global Sovereign Debt

Chair: Massood Ahmed, President, Center for Global Development

Guillaume ChabertDeputy Director, Strategy, Policy and Review Department, IMF  


Coffee Break


Liquidity Bridge Proposal

Chair: Paola Subacchi, Incoming Chairholder, Sovereign Debt Chair, Sciences Po 

Ishac Diwan, Finance for Development, Paris School of Economic

Vera Songwe, Finance Chair of the Liquidity and Sustainability Facility and co-Chair of the High-Level Panel for Climate Action

Vera Daves de Sousa, Finance Minister, Angola


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