World Bank Executive and Alumnus Denny Kalyalya to Speak Sept. 26

Denny Kalyalya

The Political Economy Research Institute (PERI) is hosting a guest lecture by World Bank executive and alumnus Denny Kalyalya on Friday, Sept. 26 at 3 p.m. in Gordon Hall. Kalyalya, executive director at the World Bank representing the Africa Group I Constituency, will discuss “Financing for Development” in the latest installment of the PERI African Development Policy Program Speaker Series.

While the World Bank Group recently set reducing extreme poverty to no more than 3 percent globally by 2030 and boosting the incomes for the bottom 40 percent in every country as its overarching goals, achieving such goals in Sub-Saharan African (SSA) nations will require high levels of capital investments. However, several SSA countries are characterized by low savings, resulting in large saving-investment gaps, and failure to sustain high and broad-based economic growth and concentration of investment in extractives contribute to slow progress in this region.

Kalyalya’s presentation will examine the traditional and non-traditional sources of development finance that could bridge these financing gaps. He will highlight the potential of official development assistance in its various forms, as well as non-traditional sources, such as foreign direct investment and workers’ remittances. The lecture will also discuss inward-looking options for bridging the saving-investment gaps and provide highlights on emerging means of raising development finance.

Kalyalya, who holds a Ph.D. from the department of economics, is currently executive director at the World Bank representing the Africa Group I Constituency comprising of Botswana, Burundi, Eritrea, Ethiopia, The Gambia, Kenya, Lesotho, Liberia, Malawi, Mozambique, Namibia, Rwanda, Seychelles, Sierra Leone, Somalia, South Sudan, Sudan, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.

The lecture is co-sponsored by PERI, the Economics Department History and Development Workshop and Five College African Studies Council.