Wednesday, April 17th
8:00 am – 7:30 pm ET
1957 E St NW, Washington DC
Elliott School of International Affairs
The Institute for International Economic Policy is pleased to announce that the Conference on The Future of Finance and Trade in Africa will take place on Wednesday, April 17th, 2024 at the Elliott School of International Affairs. This conference is co-sponsored by the GW School of Business, The Growth Dialogue, and Believe in Africa. Breakfast, lunch, and light refreshments will be provided.
Breakfast (8:00 – 9:00 am)
Welcome Remarks (9:00 – 9:15 am)
Ellen Granberg, President of George Washington University
Keynote Address (9:15 – 10:00 am)
The Honorable Wes Moore, Governor of Maryland
Meetings with Business Leaders by the Honorable Wes Moore (9:30 am, separate breakout room)
SESSION 1: Emerging Technologies for Inclusive Financial Services Delivery (9:30 – 10:40 am)
SESSION 2: Climate Finance and Financial Innovation (10:45-11:45 am)
LUNCH SESSION: Governors of Central Banks and the Future of African Finance (11:50 am – 1:20 pm)
Led by Danny Leipziger, Managing Director of The Growth Dialogue; Professor of Practice of International Business
SESSION 3: Financial Innovations Driving Africa’s Growth (1:30 – 2:40 pm)
Coffee Break (2:40 – 3:00 pm)
SESSION 4: U.S. Economic Policy in Africa: Supporting Progress on the Continent (3:00 – 4:00 pm)
Sponsors (4:00 – 4:30 pm)
Africa Open for Business (4:30 – 5:00 pm)
Closing Keynote Presentation (5:15 pm)
Sheila Cherfilus-McCormick, U.S Representative for Florida’s 20th District
Reception (5:30 – 7:30 pm)
About the Keynote Speakers
Wes Moore is the 63rd Governor of the state of Maryland. He is Maryland’s first Black Governor in the state’s 246-year history, and is just the third African American elected Governor in the history of the United States. Moore is a proud graduate of Valley Forge Military Academy and College, where he received an Associate’s degree in 1998, and was commissioned as a second lieutenant in the U.S. Army. Afterward, he went on to earn his Bachelor’s in international relations and economics at Johns Hopkins University in Baltimore, where he graduated Phi Beta Kappa. While at Johns Hopkins, Moore interned in the office of former Baltimore Mayor Kurt Schmoke. Moore was the first Black Rhodes Scholar in the history of Johns Hopkins University. As A Rhodes Scholar, he earned a Master’s in international relations from Wolfson College at Oxford. In 2005, Moore deployed to Afghanistan as a captain with the 82nd Airborne Division, leading soldiers in combat. Immediately upon returning home, Moore served as a White House Fellow, advising on issues of national security and international relations.
Congresswoman Sheila Cherfilus-McCormick, the first Black woman to represent Florida’s 20th congressional district, was re-elected to the U.S. House of Representatives in January 2023 to serve a second term. Congresswoman Cherfilus-McCormick is honored to serve on the House Committee on Foreign Affairs and the House Committee on Veterans’ Affairs as the Ranking Member of the Subcommittee on Technology Modernization. She is also the Chair of the Diversity & Inclusion Task Force for the Democratic Women’s Caucus, a Co-Chair of the Haiti Caucus, and serves as a member of the Congressional Black Caucus. Congresswoman Cherfilus-McCormick earned her Bachelor of Arts in Political Science and Government from Howard University. In further pursuit of education, the Congresswoman also earned a Juris Doctorate from St. Thomas University. While in office, she remains committed to tackling the growing housing crisis, inadequate access to quality health care, and lack of equitable opportunities throughout her district and country.
Indermit Gill is Chief Economist of the World Bank Group and Senior Vice President for Development Economics.
Christopher Fussner founded and owns TransTechnology Pte. Ltd. in Singapore in 1988, a major distributor of surface mount technology and semiconductor capital equipment. Headquartered in Singapore, Trans-Tec has 235 employees worldwide with offices in China, India, Japan, Malaysia, Mexico, Thailand, United States, and Vietnam. He has had extensive experience in negotiating and establishing joint ventures, strategic alliances, licenses, distribution networks and sales worldwide. In addition, Mr. Fussner is also founder and owner of Certain Cellars Pte. Ltd. in Singapore, an importer and distributor of fine wines. Prior to forming these companies, Mr. Fussner headed Asia sales for Amistar Corporation based in Seoul, Korea and Singapore. As such, he was responsible for sales and service for electronics manufacturing industry machines in Australia, Asia, and India.
l is president emeritus and a senior fellow at the Center for Global Development, a policy-oriented research institution that opened its doors in Washington, DC in October 2001. Prior to launching the Center, Birdsall served for three years as senior associate and director of the Economic Reform Project at the Carnegie Endowment for International Peace. Her work at Carnegie focused on issues of globalization and inequality, as well as on the reform of the international financial institutions.
Ana Palacio was the first woman to serve as Foreign Minister of Spain, from 2002-2004. Before this, she was a member of the Spanish Parliament, where she chaired the Joint Committee of the two Houses for European Affairs. She also served as a member of the European Parliament, where she chaired the Legal Affairs and Internal Market Committee, the Justice and Home Affairs Committee and the Conference of the Committee Chairs, the most senior decision-making body on legislative policy and programs. As the Head of the Spanish Delegation to the European Union’s Intergovernmental Conference and a member of the Presidium of the Convention, Ms. Palacio was at the forefront of the debate on the future of the European Union and drafted and led legal discussions on the European Treaties reform.
is a Nonresident Senior Fellow at the Brookings Institution, a Distinguished Resident Scholar at the Emerging Markets Forum in Washington, D.C., a Senior Fellow at the Results for Development Institute and a Senior Research Fellow at the International Initiative for Impact Evaluation. He is the co-founder and co-chair of the international Scaling Community of Practice, which has over 2,500 participants.
Sunil Sharma is a Distinguished Visiting Scholar at the Institute for International Economic Policy, Elliott School of International Affairs, The George Washington University, Washington DC, USA, and a Senior Associate at the Council on Economic Policies, Zurich, Switzerland. He was the Assistant Director in the IMF’s Research Department from 2015-2018, and the Director of the IMF-Singapore Regional Training Institute (STI) in Singapore from 2006-2015. Before moving to Singapore in 2006, Sunil was Chief of the IMF Institute’s Asian Division in Washington, D.C. Prior to joining the IMF in 1992, he was on the Economics faculty at the University of California, Los Angeles (UCLA).
Sarah Bloom Raskin, the former deputy secretary of the U.S. Department of the Treasury, was named the Colin W. Brown Distinguished Professor of the Practice of Law in 2021. She is also a senior fellow in the Duke Center on Risk. Raskin was previously a visiting professor of the practice of law at Duke and a Rubenstein Fellow.
Timothy Lane served as Deputy Governor from February 2009 until his retirement from the Bank of Canada in September 2022.
James Talbot is Director of the International Department at the Bank of England. He is also the Chair of the Workstream on Monetary Policy of the Central Banks and Supervisors Network for Greening the Financial System (NGFS). James’ other roles at the Bank of England have included: Head of Monetary Assessment and Strategy Division, advising the MPC on Monetary Policy tools, implementation and strategy; working as a senior adviser on domestic and European macroprudential policy issues; and leading the preparation of the MPC’s quarterly UK forecast. James was UK Alternate Executive Director at the IMF from September 2008- September 2010.
Alexander Barkawi is the founder and director of CEP. Prior to his decision to build up CEP, he was the managing director of SAM Indexes and thus responsible for developing the Dow Jones Sustainability Indexes (DJSI) into a key reference point for sustainability investing. Before joining SAM, Alex took the lead in internationalizing the activities of oikos – an organization that today promotes sustainability in teaching and research of economics and management at more than 40 universities worldwide. Alex is a graduate in economics (M.A.) of the University of St. Gallen, Switzerland, where he also wrote his PhD thesis on “Social Change in Egypt in the 1990s”. He grew up in Germany and Egypt and today lives in Zurich, Switzerland.
Sarah Dougherty focuses on financial regulations related to climate change and green banks, as well as growing finance and economics expertise within NRDC. Before joining NRDC in 2015, Dougherty worked at the Federal Reserve Bank of Atlanta where she held various roles, including as a research analyst covering the energy industry, writing monetary policy briefs, and leading economic education in public affairs. She also helped to create the Green Bank Network of existing green banks, served on the Washington, D.C., Green Bank Advisory Committee to set up a city-level green bank, and worked in Chile and Mexico to support the nations’ green finance efforts. Other previous work includes positions at the Coalition for Green Capital, C2ES (a small solar EPC firm), and the Federal Home Loan Bank of Atlanta. Dougherty holds a master’s degree in economics and is based in Atlanta.
Paul Hiebert heads the Systemic Risk and Financial Institutions Division of the European Central Bank (ECB). In this role, he leads systemic risk analysis for the euro area feeding into the ECB’s flagship Financial Stability Review, as well as macroprudential policy for the largest euro area banks. Since 2019 he has been leading climate-related risk and financial stability analysis with the corresponding publication of the ECB’s and ESRB’s annual report. His current role builds on over 20 years of experience within the ECB, the International Monetary Fund, the Reserve Bank of Australia and the Canadian Department of Finance in various capacities—spanning economic, financial and policy functions for a wide range of countries. He has published on a diverse set of topics, including financial cycles, global banking, climate change issues, macroprudential policy, housing markets, and fiscal policy. He holds an M.A. in Economics from McGill University in Montréal.
Mark Levonian was most recently Managing Director and Global Head for Enterprise Economics and Risk Analysis at Promontory Financial Group. He was formerly Senior Deputy Comptroller for Economics at the US Office of the Comptroller of the Currency (OCC), where he served as a key advisor to the Comptroller before, during, and after the global financial crisis. Mark oversaw quantitative examination support and policy research for the OCC and was closely involved in policy responses to the financial crisis, including the development of bank stress testing. As a senior regulatory official and economist, he led or participated in various Basel Committee initiatives related to economic modeling and played a leading role in the development of rules and guidance for multiple generations of the Basel capital framework. Prior to joining the OCC, Mark was Vice President for Banking Supervision and Regulation and Economic Research Officer at the Federal Reserve Bank of San Francisco, Manager of the Banking Studies Department at the New York Fed, Lecturer in Finance at the University of California’s Haas School of Business, and Senior Economist at the Reserve Bank of Australia. He has been an adviser/consultant to the World Bank, the IMF, and the central banks of Russia and Belarus.
William White is currently a Senior Fellow at the C.D. Howe Institute in Toronto. He is also an Advisor to the Council on Economic Policies. From 2009 until March 2018, he served as Chair of the Economic and Development Review Committee at the OECD in Paris. Prior to that, he spent fourteen years as Economic Adviser at the Bank for International Settlements (BIS) in Basel. In that role, he was responsible for all BIS research, data collection, and the organization of meetings for central bankers from around the world. Before joining the BIS in 1994, he was the Deputy Governor responsible for international affairs at the Bank of Canada in Ottawa.
Patrick Hyland, MA ’03, is a managing director in the Global Client Business within Goldman Sachs Asset Management and also serves as co-chair of the Separate Account and Advisory Working Group. He joined Goldman Sachs in 2010 as a vice president in the Platform Solutions Group within the Investment Management Division and was named managing director in 2021. Prior to joining the firm, Patrick was vice president and manager in Client Service at OppenheimerFunds. He is also an Executive Circle member of the Elliott School’s Institute for International Economic Policy.
Persis Khambatta, MA ’07, is director of global government affairs for India and South Asia at Walmart. Previously, she spent eight years with BowerGroupAsia, managing key client relationships across South Asia, providing political-economic analyses, mapping, regulatory monitoring and country strategies. Khambatta also served as a fellow and adjunct fellow for the Wadhwani Chair in U.S.-India Policy Studies at the Center for Strategic and International Studies, as well as a program officer and consultant at The Asia Foundation.
Moderator:
Viral V. Acharya is the C.V. Starr Professor of Economics in the Department of Finance at New York University Stern School of Business (NYU-Stern) and an Academic Advisor to the Federal Reserve Banks of New York and Philadelphia. Viral was a Deputy Governor at the Reserve Bank of India (RBI) during 23rd January 2017 to 23rd July 2019 in charge of Monetary Policy, Financial Markets, Financial Stability, and Research. His speeches while at the RBI will release in the end of July 2020 in the form of a book titled “Quest for Restoring Financial Stability in India” (SAGE Publications India), with a new introductory chapter “Fiscal Dominance: A Theory of Everything in India”. Viral completed Bachelor of Technology in Computer Science and Engineering from Indian Institute of Technology, Mumbai in 1995 and Ph.D. in Finance from NYU-Stern in 2001. Prior to joining Stern, he was at London Business School (2001-2008), the Academic Director of the Coller Institute of Private Equity at LBS (2007-09) and a Senior Houblon-Normal Research Fellow at the Bank of England (Summer 2008). Viral’s primary research interest is in theoretical and empirical analysis of systemic risk of the financial sector, its regulation and its genesis in government-induced distortions, an inquiry that cuts across several other strands of research – credit risk and liquidity risk, their interactions and agency-theoretic foundations, as well as their general equilibrium consequences. He has published articles in the American Economic Review, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Review of Finance, Journal of Business, Journal of Financial Intermediation, Rand Journal of Economics, Journal of Monetary Economics, Journal of Money, Credit and Banking, and Financial Analysts Journal. He is currently associate editor of the Review of Corporate Finance Studies (RCFS, 2011-) and Review of Finance (2006-), and was an editor of the Journal of Financial Intermediation (2009-12) and associate editor of the Journal of Finance (2011-14).
Liaquat Ahamed is the author of the critically acclaimed best-seller, Lords of Finance: The Bankers Who Broke the World, about central bankers during the Great Depression of 1929-1932. The book won the 2010 Pulitzer Prize for History, the 2010 Council on Foreign Relations Arthur Ross Gold Medal, and the 2009 Financial Times-Goldman Sachs Best Business Book of the Year Award. Ahamed was a professional investment manager for twenty-five years. He has worked at the World Bank in Washington, D.C., and the New York-based partnership of Fischer Francis Trees and Watts, where he served as chief executive. He is currently a director of the Putnam Funds. He is on the board of trustees of the Journal of Philosophy, the Sun Valley Writers’ Conference and a former trustee of the Brookings Institution and the New America Foundation. He has degrees in economics from Harvard and Cambridge.
Rakesh Mohan is one of India’s senior-most economic policymakers and an expert on central banking, monetary policy, infrastructure and urban affairs. Most recently he was executive director at the International Monetary Fund in Washington, D.C., representing India, Sri Lanka, Bangladesh and Bhutan, and chairman, National Transport Development Policy Committee, Government of India, in the rank of a Minister of State. He is also a former deputy governor of the Reserve Bank of India. As deputy governor he was in charge of monetary policy, financial markets, economic research and statistics. In addition to serving in various posts for the Indian government, including representing India in a variety of international forums such as Basel and G20, Mohan has worked for the World Bank and headed prestigious research institutes. He is also Senior Advisor to the McKinsey Global Institute and Distinguished Fellow of Brookings India. Mohan has written extensively on urban economics, urban development, Indian economic policy reforms, monetary policy and central banking.
