The Future of USSD Technology in Extending Financial Inclusion to the Last Mile: Between a Rock and a Hard Place is the first of a three-episode series in which we will explore case studies from elsewhere in the world, what it will take to adopt them in Uganda and what that will mean for financial inclusion.

This episode explores the past, present, and future of USSD, discussing its contributions and limitations, while also considering the emerging alternatives that could shape the future of financial services in Uganda.

You may also read the accompanying blog on the link https://fsduganda.or.ug/unpacking-the-world-of-ussd-technology/

The Future of USSD Technology Series: Episode One

Modern economics was built on ideas spelled out by Adam Smith in his 18th-century The Wealth of Nations. But while he used the term only once in that economic treatise, Smith is most remembered for “the invisible hand,” a metaphor Oren Cass says has wrongly been associated with the idea that the pursuit of profit is always socially beneficial and that markets are somehow magically guided by that principal. Cass is the founder and chief economist at American Compass. In this podcast, he says the contortion of Smith’s idea led to a blind faith in markets, whereas “the invisible hand” was about ensuring the alignment between private profit and the public interest.

Transcript: https://bit.ly/3DdWizp  

Read the article in Finance and Development: IMF.org/FANDD

Oren Cass on the Invisible Hand

While we like to think our financial decisions are based on logic, the truth is, they are largely driven by emotion. So when John Maynard Keynes looked for methods to measure economic fluctuations, animal spirits were a key ingredient. Karthik Sastry is a macroeconomist and assistant professor at Princeton University. In this podcast, he says personal instincts and primal urges are known to cause cycles of boom and bust, and one way to gauge those emotions is through economic narratives. Sastry is coauthor with Joel Flynn of How Animal Spirits Affect the Economy published in Finance and Development magazine. 

Transcript:  https://bit.ly/43HkuoB

Read the article at IMF.org/fandd

Karthik Sastry on Animal Spirits and the Economy

Economists have long surmised that people’s knowledge and skills contribute significantly to economic development, but to what degree can access to an education change lives? Amory Gethin has compiled data from surveys from more than 150 countries to measure what economists have never measured before: the correlation between education and individual incomes. Gethin is an economist in the World Bank Development Research Group working on growth and inequality and has sought to quantify the economic value of education as it relates to global poverty reduction. In this podcast, Gethin says investing in education advances those who pursue degrees and those who don’t. 

Transcript: https://bit.ly/4iFzYOl

Read the article at IMF.org/fandd

Amory Gethin Measures the Economic Value of Education

Never underestimate the value of a good idea. Ideas are the starting point for innovation; few things fuel economic growth more than innovation. However, most of today’s innovators emerge from a narrow demographic group with specific backgrounds, which Xavier Jaravel says creates the phenomena of “Lost Einsteins” and “Lost Marie Curies". Jaravel is a professor of economics at the London School of Economics. In this podcast, he talks about the benefits of unleashing untapped talent and broadening the pool of innovators worldwide. 
Transcript:  https://bit.ly/4j5jrTS

Read the article at IMF.org/fandd

Xavier Jaravel on Democratizing Innovation to Spur Growth

Malaysia is one of Southeast Asia's strongest economies and has recently been lauded for its ability to keep inflation in check. But Malaysia is not immune to the rising global trade tensions and uncertainty of late. In this podcast, IMF Asia and Pacific Department head Krishna Srinivasan sits down with Bank Negara Malaysia Governor Abdul Rasheed Ghaffour to discuss the intricacies of central bank operations amid this changing landscape. The conversation occurred in the Governor Talks series held during the IMF-World Bank Spring Meetings.  Watch the webcast at IMF.org

Malaysia Bank Governor Abdul Rasheed Ghaffour on Navigating Uncertainty

We’re excited to invite you to the 1st episode of the FSD Uganda Podcast 🎙️ on Unlocking Fair Credit in Uganda: The Case for Risk-Based Lending

In a country where interest rates can range from 8 percent to a staggering 34 percent, accessing affordable credit remains a major challenge — especially for the unserved and underserved. But what if there was a better way?

This episode explores why the credit interest rates are so high and how Risk-Based Lending can reshape Uganda’s financial landscape. With the right data, responsible borrowers could finally get the fair, affordable credit they deserve — and lenders could reduce risk, defaults, and costs.

Episode One: Risk Based Lending Podcast Series

After four long years of numerous crises, sub-Saharan Africa’s hard-won recovery has been disrupted by yet another shock. The sudden shift in the global outlook has clouded the region’s short-term prospects and significantly complicated policy making. Economist Andrew Tiffin and his team produce the IMF&nbsp;Regional Economic Outlook for sub-Saharan Africa.&nbsp;In this podcast, Tiffin says the current shake-up in global value chains, while disruptive, can create new trade and investment opportunities. 
Read the report at IMF.org

Recovery Interrupted: Sub-Saharan Africa’s Outlook

Most advanced economies are witnessing their populations age and labor forces shrink, and the same trend is expected to hold for the largest emerging economies within the decade. So the largely touted demographic dividend of previous decades is making way for a demographic drag. Diaa Noureldin is an economist in the World Economic Studies division in the IMF Research Department. In this podcast, he says healthy aging and policies that keep people in work longer could offset the demographic drag on growth. 

Transcript: https://bit.ly/4jS000P 

Read the article in Finance &amp; Development IMF.org/fandd

Diaa Noureldin on Growth Prospects in an Aging World

Public resistance to new policies often leaves policymakers scratching their heads. What seems a perfectly reasonable policy to a government is often perceived by its citizenry as regressive. Stefanie Stantcheva’s multidisciplinary approach to research digs deep into the minds of people at the receiving end to help design better policies. Stantcheva is a professor of economics at Harvard University, and this year’s recipient of the prestigious Clark Medal, awarded by the American Economic Association for the most significant contributions to economic thought by an economist under 40. She sat down with journalist Rhoda Metcalfe to discuss how tax policy impacts innovation for the IMF series on extraordinary Women in Economics. 

Transcript: https://bit.ly/453h1ku

Women in Economics: Stefanie Stantcheva on Thoughts that Matter

There was a time when economic expertise ruled policy debates at virtually all levels of government. And while trade, taxation, and other important policies are still guided by economic analysis, economists increasingly feel sidelined by politics. In her former roles as chief economist at the US Treasury Department and senior economist at the White House Council of Economic Advisers, Harvard professor Karen Dynan has seen too much solid economic research be rejected due to overly dense presentations. In this podcast, Dynan says economists need to engage with policymakers and the public at a level that they can understand if they want to be part of the policy conversation.   Transcript: https://bit.ly/4ojNbA6 

Read the article in Finance &amp; Development magazine: www.imf.org/fandd

Karen Dynan on Regaining Lost Ground in Policy Influence

Financial Sector Deepening Uganda (FSDU) is an independent not-for-profit company committed to promoting greater access to financial services in Uganda. FSD Uganda seeks to develop a more inclusive financial sector with a focus on low-income individuals (particularly women) and Micro, Small and Medium Enterprises (MSMEs). We support innovation, conduct research, help promote and improve policy, laws and regulation that shape the financial sector in Uganda.

The Future of USSD Technology Series: Episode One

FSD Uganda

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