Global Economy News
LAST UPDATE: September 18, 2025
Trump returns to the UN as Gaza, Ukraine conflicts rage
At the 80th UN General Assembly, President Donald Trump returns to the podium amid ongoing conflicts in Gaza and Ukraine. Key topics include cuts in U.S. foreign aid, reduced engagement with UN bodies, climate treaty pullbacks, and tensions over Palestine, Iran, and nuclear sanctions.
Insight
The event underscores a deepening fracture in international cooperation, as rising geopolitical instability forces multilateral forums like the UN to grapple with conflicting priorities. Trump’s agenda suggests a push toward nationalism and retrenchment rather than global collective problem-solving, which could reshape diplomatic norms especially around humanitarian crises and climate policy.
UN boosts financial support to poorer countries attending COP30 amid hotel crisis
The UN has raised the daily subsistence allowance for delegates from 144 low-income countries from USD 144 to USD 197, to help offset soaring hotel costs in Belem ahead of COP30. Many hotels are charging 10-15 times normal rates, and lodging capacity is insufficient for the expected number of attendees.
Insight
Rising logistical and accommodation costs threaten to sideline poorer nations in climate diplomacy; increasing allowances is a necessary but likely insufficient measure to maintain truly inclusive participation. It illustrates how practical infrastructure and cost issues can become diplomatic equity issues.
Treasury taps Bessent chief of staff for IMF post, sources say
Dan Katz, who is Chief of Staff to U.S. Treasury Secretary Scott Bessent, is expected to be appointed First Deputy Managing Director of the IMF. This would place a close ally of Bessent in the No. 2 position at the Fund.
Insight
This move suggests the U.S. intends to exert more influence over IMF policymaking, pushing for institutional shifts toward what the current administration defines as the Fund’s core financial and macroeconomic mission. It could change the balance of priorities at the IMF, especially on issues like climate, social spending, and gender.
