The global economy was more resilient than anticipated in the first half of 2025, but downside risks loom large as higher barriers to trade and geopolitical and policy uncertainty continue to weigh on activity in many economies. The latest OECD Interim Economic Outlook projects global growth slowing from 3.3% in 2024 to 3.2% in 2025 and 2.9% in 2026, as early stockpiles of goods accumulated in anticipation of higher tariffs are drawn down, and as the implementation of tariffs and continuing policy...

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The world is transitioning faster than ever towards clean energy. Last year alone, global spending hit a record $2tn, with $2 invested in clean energy for every $1 in fossil fuels, according to the International Energy Agency. In the power sector, investment in clean technologies outstripped fossil fuels by 10 to 1. This shift is driven by the existential threat of climate change, a shared recognition that energy security is national security, and the understanding that clean energy is...

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Remarks by Alfred Kammer, Director, European Department, International Monetary Fund, at the EU’s Economic and Financial Affairs Council Thank you for the opportunity to address you today on the national-level reform priorities of EU countries. History shows that high productivity growth in Europe is possible. Between the end of World War II and the end of the last century, the EU outpaced U.S. labor productivity growth. But when the information and communication technologies (ICT) revolution let productivity surge in the...

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WASHINGTON, D.C., September 19, 2025—The World Bank Group, through its private sector arm, the International Finance Corporation, has closed its inaugural securitization transaction; successfully launching a new model to attract institutional private capital into emerging markets. This transaction marks the first tangible step in a larger effort to build an originate-to-distribute model for emerging market investments. The $510 million collateralized loan obligation (CLO) comes after two years of determined work to design and prepare the product. The repackaging of IFC loans...

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Washington, D.C. — The Export-Import Bank of the United States (EXIM) today announced that John Jovanovic has been confirmed by the United States Senate as President and Chairman of the Board of Directors. Jovanovic brings extensive experience in finance, investments, and public service to EXIM. “I am deeply grateful to President Trump for the opportunity to serve our country in this role,” said Chairman Jovanovic. “The Export-Import Bank will be an important tool in carrying out the President’s agenda of...

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By Miguel Ampudia, Eduard Betz, Anne Duquerroy, Benjamin Hartung, Vagia Iskaki and Olivier Vergote A small group of banks is crucial for the smooth functioning of euro area sovereign bond markets. They buy bonds from issuing governments and sell them on to final holders. To play this role, they need sufficient resources, especially capital. This blog examines potential signs of strain in the intermediation process. Intermediation services by dealer banks which help connect bond-issuing governments with bond-buying investors have become more...

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By: Romain Veyrune Assessments can help clarify the appropriate capitalization to best ensure a sound institutional financial position Central banks pride themselves on being data-driven and consensus-based. Surprisingly, though, there is little consensus among policymakers on a crucial issue: how much capital should these institutions hold? Unlike commercial banks, central banks don’t have universally prescribed minimum capital requirements. They can’t go bankrupt, because they can always issue their own currency to meet their nominal payment obligations. Even so, a weak capital position...

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