The Fourth International Conference on Financing for Development (FfD4) was held in Sevilla (Spain), from June 30 to July 3, 2025, amidst a challenging global economic and geopolitical environment. The FfD4 took place against the backdrop of rising global debt levels, backsliding of developmental goals, escalating geopolitical tensions, weakening of multilateralism and international solidarity, and severe climate shocks.

The FfD4 was the fourth in a series of international conferences convened by the United Nations. Its primary objectives were to close…

The executive orders signed by U.S. President Donald Trump last week to levy a 25 percent tariff on India, coupled with an additional 25 percent tariff announced on 6 August for its purchases of Russian oil, have posed new hurdles to the ongoing fast-track negotiations on an India-U.S. bilateral trade agreement (BTA).

The additional 25 percent tariff, which will come into effect from 27 August if India continues to buy oil from Russia, will effectively bring the total tariff on…

The term “international financial architecture” is currently experiencing a resurgence in popularity thanks to the Fourth International Conference on Financing for Development (FfD4), scheduled for June 30 to July 3, 2025, in Spain. Despite the extensive discourse surrounding this concept since the late 1990s, there is no universally accepted definition of what is meant by the term “international financial architecture” (IFA). Generally speaking, IFA refers to a comprehensive framework comprising institutions, agreements, policies, rules, and practices that govern the…

Ever since the Conference of Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) first met in 1995, effective implementation of the commitment taken by the developed countries to “provide new and additional financial resources to meet the agreed full costs incurred by developing country Parties in complying with their obligations” has received considerable attention. This was more so in the 29^th COP (COP29) held at Baku in November 2024 which was expected to operationalise two new…

US President-elect Donald Trump made two promises that were not only laced with populism, but were also presented as the essential elements of his economic policy. First, he promised an across-the-board increase in import tariffs: 60% tariffs would be imposed on US imports from China, while imports from all other trade partners would range from 10-20%, and higher than 200% for vehicles from Mexico. Secondly, pledged the US would “take other countries’ jobs” if he returned to the White…