Portfolio flows to EM stood at –17.1 bn in March Equity and debt flows were –12.4 bn and –4.8 bn. China drove most of the retrenchment, while EM ex-...

As support for ambitious climate policy falters and corporate climate commitments are called into question, the net zero transition is at serious risk of stalling—prompting a fresh look at physical climate risks and calls for a major scale-up in adaptation finance.

This edition of Global Macro Views explores the key factors behind the recent outperformance of European stocks relative to their U.S. counterparts, focusing on valuation dynamics, earnings trends, and macroeconomic divergence.

The external financing needs will remain contained, and the debt-service-to-exports ratio will decline further supported by narrower CA deficits and reduced amortization.

On April 3 the Chinese authorities added a weaker USDCNY exchange to its arsenal of responses to US tariffs. This shift in PBOC policy should push Asia currencies weaker in the coming weeks. Most Asia currencies have a high (and positive) correlation with movements in USDCNY.

This week’s Digital Finance Developments investigates the use of special economic zones to promote fintech development and how individual regions are designing policy frameworks to establish fintech leadership.

Vietnam, Taiwan, Malaysia, and Thailand have the largest export exposure to the US market. Significant space exists for monetary easing to help mitigate the negative impact of US tariffs on growth. FX weakness could, however, constrain policy easing unless commodity price declines are significant.

• China’s resilient export growth last year was driven by both weak demands at home and strong demand from abroad. • For example, the strong steel exports were pushed by domestic supply while global demands pulled copper exports. • The links between export growth, capacity utilization, and overcap

Edition of the Digital Finance Download covering March 2025. A monthly update of significant developments in digital finance around the globe.

Government debt across LMICs reached $5.6 trillion in 2024, up from $4 trillion in 2019. A significant portion of this increase has been driven by domestic debt accumulation which now accounts for around 83% of total government debt.

We examine the interplay between U.S. fiscal policy, trade measures, and the dollar’s global role. Persistent fiscal deficits sustain foreign demand ...

We assess the structure and market impact of the Trump administration’s Liberation Day reciprocal tariff announcement. The framework blends a 10% uni...

The IIF has published a briefing looking across at jurisdictional plans for upcoming developments in 2025–26 and highlighting some key actions and regulatory shifts firms should watch out for.

In this Views on Europe, we provide an initial assessment of the impact of deteriorating investor sentiment on Turkish asset valuations and examine how what appears to be a new steady state of a weaker Lira and higher interest rates could shape Turkey’s growth and inflation outlook.

This edition of Data Note explores trends and challenges in Open Banking, Open Finance, and Open Data. Consent-based data-sharing frameworks are driving competition and financial inclusion, but regulatory misalignment, cybersecurity concerns, and data governance continue to be key challenges.

Rising global policy uncertainty, changing U.S. political dynamics, and regulatory fragmentation are testing the resilience of sustainable finance, but public interest remains strong and financial sector support for climate goals is high.