An End to Debt Déjà Vu

Building Domestic Accountability
October 12, 2023
2:00 pm – 3:30 pm Marrakech time (WEST)
Hybrid Event

Es Saadi Marrakesh Resort
Marrakech, Morocco

The world is facing a new debt crisis, with low-income countries at particular risk. Breaking out of the current debt crisis and avoiding future ones will require a fundamental shift in public oversight and accountability for the way that governments borrow and manage debt. 

As a side event to the WB/IMF Annual Meetings in Morocco, the International Budget Partnership (IBP), the National Democratic Institute (NDI), and the Bill & Melinda Gates Foundation are convening a high-level panel discussion on October 12 to discuss how we can develop a new vision for a domestic accountability framework for public debt that could support more responsible fiscal and debt policy management. 

This discussion will focus on exploring how legislatures, audit institutions, and civil society can engage with governments to promote more effective negotiation, contracting, and monitoring of government debt operations. 

This event is an opportunity to learn about the latest thinking on domestic debt accountability, and to contribute to the development of new ideas and strategies for addressing this critical issue. 

Join us for this important discussion on how to break the cycle of debt crises and build a more sustainable future for all.

The event will be held in English and French. We will be serving light refreshments.

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Ana Patricia Muñoz

Executive Director, International Budget Partnership

Ana Patricia Muñoz joined the International Budget Partnership as Executive Director in 2023. Previously, she was the Executive Director of FARO, non-partisan Ecuadorian think tank that generates research and implements initiatives to influence public policy and build a more equitable, just, and sustainable society.  

As a trilingual economist that has lived in three countries, Ana Patricia brings strong technical knowledge to work on budgets and fiscal accountability. Her work has mainly focused on reducing inequality.

She spent a decade at the Federal Reserve Bank of Boston, where she rose through the ranks to become Assistant Vice President. She was one of the youngest people— and the second Latina— in this position. During this time, she spearheaded ground-breaking research and produced a seminal report on the racial wealth gap, which has had huge impact. She also played a pivotal role in bringing diverse sectors together—from local housing advocates to private banks—to reduce the number of foreclosures in the city during the 2008 financial crisis.

Ana Patricia has written more than 20 research reports, book chapters, and articles published in academic journals. She holds a Master’s degree in Public Affairs from Brown University, a Master’s degree in Economics from the University of Montreal and a Bachelor’s degree in Economics from the Pontificia Universidad Católica del Ecuador.

Yan Liu

Deputy General Counsel, International Monetary Fund

Ms. Yan Liu is Deputy General Counsel in the Legal Department of the International Monetary Fund. Ms. Liu has advised on all aspects of the IMF’s policies and operations, including the design and implementation of its financial assistance programs, the surveillance over member countries’ economies and the technical assistance to its members. She currently oversees the IMF’s work to help member countries strengthen their legal frameworks in the areas of central banking and financial sector – including in response to the opportunities and challenges posed by technological changes – corporate and household insolvency, debt enforcement, public debt management, and fiscal policies. In addition, she is leading the Legal Department’s work on the development and implementation of the IMF policies on lending and has spearheaded the IMF’s work on public debt transparency. Ms. Liu frequently lectures and has published extensively on the law of the IMF and on various topics related to debt, insolvency, commercial and financial law.

Sheila Masinde

Executive Director, Transparency International Kenya

Sheila Masinde has 19 years’ work experience in anti-corruption, governance, programme management, media and outreach. She is currently the Executive Director of Transparency International Kenya (TI-Kenya), having served as Programmes Manager/Head of Programmes between 2015 and 2020. She joined TI-Kenya in 2014, as Research and Learning Manager, from BBC Media Action (British Broadcasting Corporation’s international development charity) where she was the Communications and Training Manager from 2012 to 2014. She first worked for Transparency International Kenya from 2009 to 2012 as the Advocacy and Communications Programme Officer. She has also worked at the Nation Media Group from 2006 to 2009 as a radio news presenter and online sub-editor, and I Choose Life Africa as Programme Trainer and Assistant Programme Manager working in Public Relations, Outreach and Monitoring and Evaluation departments between 2003 and 2006. She has served on the boards of National Taxpayers Association, I Choose Life Africa and Elimu Yetu Coalition. Transparency International Kenya is a not-for-profit organisation, and an autonomous chapter of the Transparency International movement, a global coalition against corruption. TI-Kenya’s vision is that of a corruption-free society. TI-Kenya has been at the forefront of the fight against corruption and governance reforms, supporting citizens, public institutions and the private sector to effect transparency and accountability, since 1999. TI-Kenya has focused on interventions targeting enhanced transparency and accountability in political funding and election campaign financing through legislative reforms and advocacy, and public interest litigation.

Theresa Ferreros

Director, Cluster 2 - Oversight and Public Debt Management Agencies, Commission on Audit, Philippines

Ma. Theresa Ferreros is the Director, Accounting Systems Development and Other Services Office, Government Accountancy Sector of the Philippine Commission on Audit.  Prior to her recent post, she was the Director, Cluster 2-Oversight and Public Debt Management Agencies, National Government Audit Sector, with audit jurisdiction over national government agencies involved in the management of the Philippines’ public debt. As Director, she provided guidance on the foci of audits particularly on public debt-related accounts and areas considering the results of risk assessments by audit teams, and spearheaded the ongoing review of the negotiation and contracting process for foreign loans. She had also served as Supervising Auditor of the Bureau of the Treasury which issues debt securities and serves as back office for the national government’s public debt, and for a special audit on legal frameworks for public debt management.  In the Commission’s early efforts to audit public debt, she was a Team Supervisor/Audit Team Leader in various audits of foreign loans, and programs and projects financed by said loans. 

Ms. Ferreros is also presently the Vice-Chair of the Technical Working Group, INTOSAI Working Group on Public Debt, which the Commission chairs, providing technical guidance and inputs on various projects on audit guidance and activities of the Working Group, and those in collaboration with the INTOSAI Development Initiative. 

Also, as a United Nations External Auditor, she had been on audit engagements to the United Nations Headquarters and its specialized agencies, such as the FAO, WHO, ILO, UNIDO and UNICEF, and a resource person on the audit of international organizations. 

Ms. Patience Oniha

Director-General, Debt Management Office, Nigeria

Ms. Oniha began her career at Icon Limited Merchant Bankers in 1986, where she rose to the position of a Manager, before joining First Securities Discount House Limited (now FSDH Merchant Bank Ltd.) in 1992. She rose to the position of General Manager/Director before joining Ecobank Nigeria Limited in 2000. Between 2004 – 2008, Ms. Oniha was in Standard Chartered Bank Nigeria Ltd. as a General Manager.

After a fulfilling career in the banking sector spanning over 22 years, Ms. Oniha made a career move to the public sectors when she joined the DMO in 2008 as Director, Market Development Department. In this capacity, Ms. Oniha brought her banking experience to bear on various aspects of the DMO’s activities.

Ms. Oniha obtained a B.Sc. Economics, First Class Honours from the University of Benin in 1983 and went on to earn an M.Sc. Finance from the University of Lagos in 1985. She is also a member of the Institute of Chartered Accountants of Nigeria in 1990 and a Fellow in 2008. She is also an Associate Member of the Chartered Institute of Taxation of Nigeria.


Adil Ababou

Senior Program Officer, Bill & Melinda Gates Foundation

Adil Ababou joined the Bill and Melinda Gates foundation in 2021 where he focuses on debt, special drawing rights and public financial management reforms. Adil joined the foundation from MIT where he worked on randomized impact evaluations. Prior to that, Adil worked for most of his career with governments in Africa, focusing on issues of debt sustainability, development finance, and budget reform. As a French Treasury official, he helped provide multilateral debt relief to low-income countries with the Paris Club and coordinated bilateral economic and financial relationships with the MENA region. In 2017, he joined the Collaborative Africa Budget Reform Initiative (CABRI) where he launched a Pan-African initiative to provide government support for budget reform. He was also a teaching assistant in economics at Sciences Po Paris and Pantheon-Sorbonne University. Adil holds an MSc. in Management from ESCP Europe, an M.Phil in International Economics from Pantheon-Sorbonne University and an MPA/International Development from the Harvard Kennedy School.

Event Resources

Domestic Debt Accountability Slides

pdf, 1.80 MB
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