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Oct 26, 2024 | 
globalcapital.com | Dominic O'Neill
Eurozone inflation is already below the European Central Bank’s 2% target, prompting a new policy debate: should the ECB keep trying to look tough on inflation, or relax and give the economy more room to breathe? Annual inflation fell to 1.7% in September and GDP growth in the second quarter was a measly 0.6%.
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Oct 26, 2024 | 
globalcapital.com | Dominic O'Neill
Financial regulators speaking to GlobalMarkets fear that the US authorities’ climbdown in September on strengthening the Basel bank capital rules is ushering in a new era of international competition in financial regulation, undoing years of cooperation to harmonise rules and create a global level playing field.
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Oct 26, 2024 | 
globalcapital.com | George Collard |Francesca Young |Oliver West |Dominic O'Neill |Steven Gilmore
Less than two weeks before the US chooses its next president, one candidate has made protectionism his standard, vowing to slap arbitrary and punitive tariffs on all kinds of trade, especially with countries he sees as rivals. Donald Trump has ratcheted up his hostile rhetoric on trade in the last few weeks. Based on his speeches, if he leads a second administration it would impose a 10% tariff on all US imports and 60% on all Chinese goods — unleashing a trade war.
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Oct 25, 2024 | 
globalcapital.com | Dominic O'Neill
The International Monetary Fund is increasingly at risk of being pressured to tilt resources to countries favoured by the West, warned Raghuram Rajan, former governor of the Reserve Bank of India, in an interview with GlobalMarkets. Rajan, also a former IMF chief economist and now a professor at the University of Chicago, said funding needs in crisis-hit countries could be growing.
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Oct 24, 2024 | 
globalcapital.com | Francesca Young |Dominic O'Neill
The US will lend $20bn to Ukraine as part of a $50bn G7 loan, to be repaid from the interest earned on frozen Russian sovereign assets, raising hopes in Ukraine of a bigger prize — that the assets themselves be handed over to Ukraine. The US said on Wednesday it would move forward with the loan without the legal changes to EU sanctions it originally asked for, but it will continue to push for those changes.
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Oct 24, 2024 | 
globalcapital.com | Dominic O'Neill
The European Bank for Reconstruction and Development is preparing its first securitization, its president Odile Renaud-Basso has told GlobalMarkets. She said the transaction would be launched to private investors in 2025. “The first step is to assess the market appetite, what kind of portfolio, and to structure the product with different countries and different tranches,” she said. She said this was more of a focus for the EBRD than public or private issuance of hybrid capital.
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Oct 23, 2024 | 
globalcapital.com | Dominic O'Neill
Investors could be underestimating the risk of new sovereign debt blow-ups in advanced economies, including the US, as rich countries’ debts expand and spending becomes looser, a top International Monetary Fund official has told GlobalMarkets. Tobias Adrian, financial counsellor and director of the IMF’s monetary and capital markets department, warned there could be other moments akin to the UK’s Gilts crisis that accompanied Liz Truss’s short-lived premiership in September-October 2022.
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Mar 6, 2024 | 
nation.africa | Dominic O'Neill
What you need to know:Kenya has focused on building the sanitation sector’s institutional and regulatory frameworks. National sanitation economies offer prospects for social and financial returns on investment. As Kenya readies to host the Water and Sanitation Investors Conference (WASIC), one can only laud its vision for universal access to sanitation and hygiene by building a vibrant sanitation economy and wooing investments.
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Oct 13, 2023 | 
globalcapital.com | Steven Gilmore |John Crabb |Oliver West |Dominic O'Neill |Elliot Wilson
World Bank president Ajay Banga unveiled a new agreement with nine other multilateral development banks on Friday, at last bringing the kind of inter-MDB coordination that reformers have long called for. The fragmented sector, which has common shareholders but no regulator or well-organised overarching governance system, has long suffered from conservatism, partly as a result.
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Oct 13, 2023 | 
globalcapital.com | John Crabb |Dominic O'Neill
The IMF Board of Governors risks causing splits in international financial governance if it does not heed calls to rebalance its quota formula when it releases its latest General Review in December. The US is against radical change but emerging market experts have been sharply disappointed by its proposals. Developing economies claim they are under-represented in the existing system and are calling for the lines to be redrawn in their favour to reduce the hegemony of Western states.
