The World Bank Group has unveiled a historic $100 billion replenishment of the International Development Association (IDA), marking a pivotal milestone in global efforts to tackle poverty and bolster economic resilience in low-income countries. The announcement, following a year-long replenishment campaign, comes as the World Bank aims to streamline and accelerate its operations, ensuring that […]
The United Nations Conference on Trade and Development (UNCTAD) has projected that global trade will reach an unprecedented $33 trillion in 2024, marking a $1 trillion increase from the previous year. This growth, representing a 3.3% annual increase, highlights the resilience of global trade amidst ongoing economic challenges, including geopolitical tensions, supply chain disruptions, and […]
Global trade is forecast to reach an unprecedented $33 trillion in 2024, according to the latest Global Trade Update released by the United Nations Conference on Trade and Development (UNCTAD). This milestone represents a $1 trillion increase compared to 2023, underscoring the resilience of international trade amid persistent global challenges. Key Highlights of the Report […]
South Korea finds itself grappling with financial turbulence and political uncertainty following an unprecedented martial law declaration by President Yoon Suk Yeol. The announcement, later lifted under parliamentary pressure, sent shockwaves through financial markets, pushing the won to multi-year lows and raising questions about the nation’s stability. The South Korean government and central bank acted […]
In the latest salvo of the intensifying US-China trade war, Beijing has imposed a ban on the export of critical minerals—gallium, germanium, and antimony—to the United States. This move, coming on the heels of new US restrictions on China’s semiconductor industry, underscores the high stakes of the technological and economic rivalry between the two superpowers. […]
The government of French Prime Minister Michel Barnier is on the brink of collapse as political opposition from both the far-right and left unites against his contentious budgetary decisions. With a no-confidence vote looming, France’s political and economic stability is at stake. The Political Deadlock Prime Minister Barnier, appointed in September by President Emmanuel Macron, […]
Introduction Ngozi Okonjo-Iweala, the first woman and first African to lead the World Trade Organization (WTO), is poised to be reappointed for a second term amid rising tensions and uncertainties surrounding the future of international trade rules. Her reappointment comes as geopolitical divides intensify, and the potential return of former U.S. President Donald Trump to […]
The Saigon River bustles with cargo ships, delivering materials to factory hubs in and around Ho Chi Minh City, Vietnam’s main financial center. Overhead, a steady stream of planes lands at the crowded airport, mirroring the frenetic activity in the city’s industrial zones. Much of this vibrancy is driven by Chinese manufacturers, who have increasingly […]
Global leaders and economic analysts are responding with concern and warnings following President-elect Donald Trump’s announcement of sweeping new tariffs targeting America’s three largest trading partners—Canada, Mexico, and China. The proposed tariffs, which include 25% on goods from Canada and Mexico and 10% on Chinese imports, are intended to address illegal immigration and drug trafficking, […]
Emerging markets are bracing for a challenging and uncertain year ahead, with economic shifts in the United States and fluctuating growth in China shaping a complex landscape for 2025, according to JPMorgan’s annual outlook. The Wall Street bank forecasts a significant slowdown in growth across developing nations, projecting a dip from 4.1% this year to […]
In a decisive step aimed at boosting fiscal discipline and stimulating economic activity, Kenya’s Pending Bills Verification Committee has approved...
In a dramatic turn that has stirred debates among economists and policymakers alike, President Donald Trump has floated a provocative...
South Africa’s official unemployment rate edged down slightly in the fourth quarter of 2024, falling to 31.9% from 32.1% in...
In a landmark operation that has captured the attention of investors and market watchers alike, the Central Bank of Kenya...