Cecile Duquesnay, AFD


Country Risk Economist
Macroeconomics, development economics, country risk analysis, external balances


Cécile Duquesnay is a macroeconomist and an expert in the economics of developing countries and external balances.

The country risk economist's core skill set lies in understanding a country's growth model and assessing its public finances, fiscal and monetary policies, the stability of its financial system, and potential balance of payments vulnerabilities.

Cécile has been a country risk economist since 2020. Her publications shed light on the economic trajectories of the countries where AFD operates. These analyses are based on close monitoring over a long period of time and are rooted in a detailed knowledge of local circumstances.

Cécile graduated from the University of Paris-Dauphine, ENSAE, and HEC. She began her career as a member of the research team of the Economic Research Department for the Crédit Agricole SA group. She joined AFD in 2012 as a specialist in overseas economies. For the following six years, she contributed to several publications (e.g., Economic and Financial Performance of Overseas Companies, Comparative Trajectories of New Caledonia and French Polynesia, Tourism in Overseas France) and led the production of theme-based and cyclical studies focused on the overseas economies within the French Overseas Institutes of Emissions (Instituts d’émission d’Outre-mer - IEDOM-IEOM). In 2018, she joined the Center for Mediterranean Integration (CMI) in Marseille as Coordinator of AFD programs in the MENA zone, in partnership with the World Bank and Plan bleu. Governance, migration, urban mobility, nature-based solutions, and managing marine protected areas are some of her research topics.

AFD publications