Global Economy News
LAST UPDATE: July 22, 2025
IMF says No. 2 official, Gopinath, leaving at end-August to return to Harvard
IMF’s First Deputy Managing Director Gita Gopinath will leave at the end of August to return to Harvard, prompting a leadership search amid U.S. influence in appointment.
Insight
This change removes a key thought leader from the Fund and presents an opportunity for the U.S. to steer future IMF policy, possibly shifting focus on trade and economic strategy.
Top central banker defends climate work after US pushback
Sabine Mauderer of the Bundesbank and chair of the Network for Greening the Financial System defended central banks’ involvement in climate risk management after U.S. withdrawal from NGFS. She highlighted underestimated physical risks and potential for GDP losses.
Insight
Mauderer’s stance reinforces the technocratic imperative of central banks to include climate risks in financial oversight. Continued NGFS work, even without U.S. participation, signals a collective global determination to address climate fragility in monetary policy.
Dollar Rethink Is Pushing Emerging World to Sell Euro Debt
Emerging-market issuers are increasingly selling euro-denominated debt as investor demand shifts, with euro bond issuance at its highest in over a decade through mid-July.
Insight
The surge underscores emerging economies’ strategy to diversify away from U.S. dollar risk. It reflects growing confidence in euro markets and investor appetite for broader currency exposure.
