External publication

Internationale Staatsverschuldung, Schuldenrestrukturierungen und mögliche Handlungsoptionen für das BMZ

Publishing date
09 May 2023
Ghana and EU flags seen side by side

This testimony was written by Jeromin Zettelmeyer and Lennard Welslau for the German Ministry of Economic Cooperation and Development.

About the authors

  • Jeromin Zettelmeyer

    Jeromin Zettelmeyer has been Director of Bruegel since September 2022. Born in Madrid in 1964, Jeromin was previously a Deputy Director of the Strategy and Policy Review Department of the International Monetary Fund (IMF). Prior to that, he was Dennis Weatherstone Senior Fellow (2019) and Senior Fellow (2016-19) at the Peterson Institute for International Economics, Director-General for Economic Policy at the German Federal Ministry for Economic Affairs and Energy (2014-16); Director of Research and Deputy Chief Economist at the European Bank for Reconstruction and Development (2008-2014), and an IMF staff member, where he worked in the Research, Western Hemisphere, and European II Departments (1994-2008).

    Jeromin holds a Ph.D. in economics from MIT (1995) and an economics degree from the University of Bonn (1990). He is a Research Fellow in the International Macroeconomics Programme of the Centre for Economic Policy Research (CEPR), and a member of the CEPR’s Research and Policy Network on European economic architecture, which he helped found. He is also a member of CESIfo. He has published widely on topics including financial crises, sovereign debt, economic growth, transition to market, and Europe’s monetary union. His recent research interests include EMU economic architecture, sovereign debt, debt and climate, and the return of economic nationalism in advanced and emerging market countries.    

  • Lennard Welslau

    Lennard is a Research analyst at Bruegel. His research interests lie in the fields of macroeconomics, international economics, and data science. He studied Philosophy, Politics and Economics in Freiburg and Buenos Aires and holds an MSc in Economics from the University of Copenhagen. In his thesis, he used a small open economy heterogeneous agent New Keynesian (HANK) model to investigate the role of wage flexibility in countries facing external demand and interest rate shocks.

    Prior to joining Bruegel, he worked as a trainee with the European Central Bank, held research assistant positions at the Walter Eucken Institute and the Copenhagen Business School, and contributed to the work of the UN Economic Commission for Latin America and the Caribbean (ECLAC) as a research consultant, working on empirical trade modelling.

    Lennard is a native German speaker and is fluent in English and Spanish.

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