High Trade and Investment Barriers Pose Threat to Mobilizing Financing for Development WASHINGTON, June 16, 2025—Flows of foreign direct investment (FDI) into developing economies—a key propellant of economic growth and higher living standards—have dwindled to the lowest level since 2005 amid rising trade and investment barriers, new research from the World Bank shows. These barriers pose a significant threat to global efforts to mobilize financing for development. In 2023, the latest year for which data are available, developing economies received just...

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By Christine Lagarde, President of the European Central Bank For the euro to reach its full potential, Europe must strengthen three foundational pillars: geopolitical credibility, economic resilience and legal and institutional integrity. We are witnessing a profound shift in the global order: Open markets and multilateral rules are fracturing, and even the dominant role of the US dollar, the cornerstone of the system, is no longer certain. Protectionism, zero-sum thinking and bilateral power plays are taking their place. Uncertainty is harming...

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The State of the Digital Decade 2025 report offers a comprehensive overview of the EU’s digital transformation. The Commission’s State of the Digital Decade 2025 report shows that each Member State has adopted a roadmap detailing the actions and budget to advance their digital transformation in line with the Commission’s recommendations following last year’s report. Main findings The third annual report assesses the EU’s progress along the four pillars for the EU’s digital transformation, highlighting achievements and gaps while proposing concrete recommendations...

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By Yan Liu, General Counsel and Director of the Legal Department, IMF Greater debt transparency builds investor confidence, helps reduce borrowing costs, and strengthens debt sustainability—reducing the risk of shocks that can lead to a debt crisis Public debt is projected to reach nearly 100 percent of global gross domestic product by the end of this decade, surpassing even pandemic-level highs. Governments, particularly those in emerging market and developing economies, face both mounting debt service costs and shrinking room to maneuver...

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Keynote speech by Luis de Guindos, Vice-President of the ECB, at the annual Joint Conference of the European Commission and the European Central Bank on European financial integration Introduction I am once again delighted to speak at the annual joint conference of the European Commission and the European Central Bank on European financial integration. This is an important event for us as we come together to appraise and advance financial integration in Europe. The recent sea change in US economic policy and...

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The European Commission has invited citizens and stakeholders to contribute to the development of a European blueprint for savings and investments accounts. This initiative, part of the Savings and Investments Union strategy, aims to facilitate citizens' participation in capital markets, enhancing returns on their savings while increasing funding available for EU companies to help them grow, innovate and create jobs. The Commission's call for evidence seeks input on best practices to make savings and investments accounts a convenient entry point to...

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Euro’s share across various indicators of international currency use largely unchanged at around 19% Emerging challenges include initiatives promoting global use of cryptocurrencies Upholding rule of law essential for maintaining, and potentially increasing, global trust in the euro The international role of the euro remained broadly stable in 2024 and the euro held on to its position as the second most important currency globally. The share of the euro across various indicators of international currency use has been largely...

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Ambitious climate targets that are underpinned by robust implementation and investment plans can provide economic opportunities, unlock investment, and support sustainable development and growth, while facilitating low-emission transitions, according to a new joint report by the OECD and the United Nations Development Programme (UNDP). Investing in Climate for Growth and Development: The Case for Enhanced Nationally Determined Contributions (NDCs) shows that aligning climate policies with economic and social priorities can lead to higher global GDP, accelerated poverty reduction, improved energy security...

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By Joseph Dalibon, Jean-Philippe Vion Imagine a country where public funds are allocated arbitrarily rather than because of an analytical process or the government’s policy priorities. In such a country, contracts would be awarded on the basis of personal connections rather than through an open competitive tendering process. Accountability would be nonexistent. It sounds like a dystopian scenario, but it's a reality in places where the rule of law is weak. Good public financial management (PFM) hinges on a robust...

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