I wonder why did Volkswagen, and other European capitalists, cheer the Commission's omnibus deregulation push and now they want Chinese style-planning? China can plan because its state can discipline capital into strategic priorities. It has credit policy. It has industrial policy.

The US Treasury has put the ongoing IMF Surveillance review at the top of the agenda as they want to stop the Fund’s work on climate. But what’s the IMF’s track record since the 2021 Climate Strategy? Read more in our new @re-course.org report: bit.ly/IMFsurveillance 🧵1/9

This characterization of the IMF’s climate work as ‘woke’ and ‘far left’ is just plain wrong The IMF’s fragmented approach to climate is embedded in its wider austerity-based advice - firmly rooted in Reaganomics. This has persistently failed to deliver economic stability (Screenshot via NY Post)

The #IMF 'core' mandate of macroeconomic stability cannot ignore #climate #gender #inequality “The IMF must ensure its fiscal, financial, monetary and exchange rate policy advice allows countries to fulfil targets under the Paris Agreement,” argues @federicosibaja.bsky.social @re-course.org

🚨 Today, Deutsche Bank, Santander, ING, and Natixis (Groupe BPCE) renew their support for Venture Global LNG, the largest liquefied natural gas #LNG developer, by helping its subsidiary, Venture Global Plaquemines, in issuing two bonds worth a total of US$4 billion. Why is this support problematic?

🚨ALERT: TotalEnergies raises €3 billion through bonds thanks to the support of Société Générale, Deutsche Bank, BBVA, JP Morgan, MUFG, RBC and Wells Fargo.

in the second Dispatch from Seville, Iolanda Fresnillo from Eurodad writes about the systematic efforts of Global North countries -1 (US) to preserve an injust debt architecture that benefits private investors www.phenomenalworld.org/analysis/who...

Who’s Afraid of a Fair Debt Architecture? | Iolanda Fresnillo

The fourth Financing for Development Conference officially kicked off in Seville this Monday, as world leaders gathered with broad smiles to congratulate one another for the good work already achieved...

phenomenalworld.org

#FfD4 will set the agenda for how the global economic system will serve #development in the coming years. European governments should show the political will that is needed for #EconomicJustice. The time is now! ⏰ Read our OpEd (@politico.eu): www.politico.eu/sponsored-co...

Now is the time to rebuild the global economic system

European political will is needed ahead of the UN Financing for Development Conference in Sevilla

politico.eu

🚨Global economic relations have long been defined by imbalances and unequal power, not by self-correcting market forces, NEW STUDY finds. @thomaspiketty.bsky.social & @gatonievas.bsky.social call for structural reforms to the international monetary and exchange system. wid.world/news-article...

Colonial extraction and unequal exchange have shaped two centuries of North-South inequality - WID - World Inequality Database

In a new study, Gastón Nievas and Thomas Piketty examine patterns of global imbalances, current account surplus/deficit and net foreign wealth accumulation over more than two centuries.

wid.world

We welcome the @europarl.europa.eu #Development Committee's support for a #UNDebtConvention in today's historical #FfD4 vote. The UN is the only 🌍 institution with equal representation & can guarantee that creditors' interests aren't prioritised over the needs of millions of people! A 🧵

New Report: €100 Billion in Austerity Cuts Across Europe 🔎 Examples: 🇫🇷 France – €20B: public hiring freeze, cuts to healthcare 🇧🇪 Belgium – €12.3B: pensions & health 🇮🇹 Italy – €20B: social protection 🇪🇸 Spain – €6.5B: education & healthcare 🇷🇴 Romania – €6B: wage caps, tax hikes

Despite the Asian Development Bank's commitment global climate goals, its technical assistance is still supporting #FossilGas — a highly polluting fossil fuel that is risky for economies, communities and the environment. 📽️ Rajneesh Bhuee #ADBAnnualMeeting @adb.org 📃Read the briefing bit.ly/ADB-TA25

Scott Bessent on the IMF: “mission creep... Now it devotes disproportionate time and resources to work on climate change, gender, and social issues.” “The IMF must be a brutal truth-teller, and not just to some members.” In other words, criticise China more. home.treasury.gov/news/press-r...

Treasury Secretary Scott Bessent Remarks before the Institute of International Finance

As prepared for delivery.IntroductionThank you for that kind introduction. It’s an honor to be here. In the final months of World War II, Western leaders convened the greatest economic minds of their ...

home.treasury.gov

25 years ago John Williamson coined term Washington Consensus to capture US policy preferences for rest of the world, implemented/enforced via US domination of IMF/World Bank. today, Scott Bessent complained about IMF/WB 'mission creep' against US interests home.treasury.gov/news/press-r...

Debt-for-nature swaps have failed to deliver real benefits for the Global South - so why expect them to fund the clean energy transition? We break down why we need grants + debt cancellation, not more debt swaps Read in @devex.com w/ Power Shift Africa -

Opinion: Why debt swaps are failing the renewable energy transition

Given the performance of debt-for-nature swaps to date, the idea that these could finance the clean energy transition is unsound.

devex.com

Half of World Bank energy projects approved over the last 3 years were deemed highly risky for people and the environment. In 2024 this was up to 60%! This means that it's not supporting the countries and communities who need it most, but rather putting them at risk of harm.

🚨New in #ObserverSpring25 IMF's 2025 Conditionality Review risks repeating past failures: austerity, debt traps & unrealistic recovery targets fuel inequality while prioritising repayment to creditors. #IMF #DebtCrisis #Austerity @re-course.org @eurodadnews.bsky.social tinyurl.com/IMFCondition...

The IMF’s 2025 Conditionality Review: a test of reform or repeat?

Austerity-driven programmes continue to deepen economic hardship, entrench inequality, and prioritise creditors over sustainable development.

tinyurl.com

The IMF going big in lending to Argentina on the basis of apparent early success by a charismatic reforming president has fortunately never gone wrong in the past.

Joseph Cotterill@jsphctrl.ft.com · last yr.

It got lost in the market chaos last week but the IMF has more or less bet the house on Argentina with its latest $20bn bailout ($12bn upfront) per this bit of the staff paper. Biggest exposure in fund history on the way, on top of the legacy of the 2022 bailout. www.imf.org/en/Publicati...

It got lost in the market chaos last week but the IMF has more or less bet the house on Argentina with its latest $20bn bailout ($12bn upfront) per this bit of the staff paper. Biggest exposure in fund history on the way, on top of the legacy of the 2022 bailout. www.imf.org/en/Publicati...

This paper is WILD: “Nestlé’s entry into LMIC formula markets caused about 212,000 infant deaths per year among mothers without clean water access… and has led to approximately 10.9 million excess infant deaths between 1960 and 2015.” www.nber.org/system/files...

In advice to 11 countries with IMF loans, @imfnews.bsky.social endorsed fossil fuel extraction “to bolster fiscal and debt positions as well as foreign reserves through exports.” Is this the climate action it boasts about? More in our report 🔖http://bit.ly/IMFclimate @federicosibaja.bsky.social