The ESG debt universe expanded by over 20% in 2024 to $7.3 trillion, driven by strong issuance from supranationals and U.S. firms.

Government debt across upper middle-income emerging market countries reached $3.6 trillion in 2024–up over 50% from $2.3 trillion in 2019, with external government debt accounting for around 30% of the total.

Political and policy uncertainty define the 2025 global economic outlook. In the U.S., inflationary pressures from tariffs and immigration policies p...

While economic indicators suggest that full-year 2024 growth will fall below 1%, the foundations have been laid for a higher medium-term growth trajectory. Lower inflation and interest rates and higher fixed investment will be core drivers of growth.

This week’s Digital Finance Developments discusses the AI landscape, including how global competition for AI leadership may lead to increased infrastructure and policy support. Recent U.S. actions illustrate potential strategies for AI leadership, though much remains unknown at this time.

Portfolio flows to EM stood at $14.4 bn in December. Equity and debt flows were -$3.1 bn and $17.6 bn. Chinese equities posted $1.3 bn in outflows. ...

This note discusses key challenges in Argentina, where multiple exchange rates have been the norm since 2019, focusing on conditions and timing for exchange rate liberalization and drawing lessons from Egypt's recent successful experience.

This note summarizes the key points that were discussed ruing our online investor trip to the GCC in December.GCC Investor Trip Notes

By 2028, global government debt is projected to hit $130 trillion—up over 35% from $95 trillion in 2024, with U.S. fiscal expansion and market issuance being the key driver.

The Q4 2024 U.S. Regulatory Update covers federal agency announcements, Congressional news, and senior regulatory appointments. This edition wraps up 2024 and looks ahead to the most important announcements ahead of the Trump Administration, including changes in the Treasury leadership.

As South Africa’s G20 presidency gears up, mobilizing private investment for emerging and developing economies (EMDEs) has never been more critical—or more challenging, given U.S. exceptionalism, geopolitical tensions, and record debt levels.

President Trump aims to boost U.S. oil production, but the industry’s capacity to do so is uncertain. This analysis explores regulatory actions a Trump administration could take, like easing permits and rolling back policies, though market complexities may limit production growth.

This week’s Digital Finance Developments discusses the global crypto-asset policy landscape for 2025. Europe will face challenges implementing its comprehensive regulations, while other markets like are seeking to become digital asset hubs. U.S. regulatory action may materialize, but will take time.

• The Politburo and the annual Economic Work meeting have called for "more proactive" fiscal policies. • They have also advocated for "properly accommodative" monetary policies for the first time since 2008. • However, monetary easing faces challenges such as weakened banking earnings and increased

Edition of the Digital Finance Download covering December 2024. A monthly update of significant developments in digital finance around the globe.