Amid rising inflation and debt levels in emerging markets, G7 leaders pledged in June to raise $600bn in private and public funds over five years to finance infrastructure in developing countries and counterbalance the influence of China’s sweeping Belt and Road Initiative (BRI).
As countries face record-high food prices, inflationary pressures and other challenges associated with the economic recovery from the Covid-19 pandemic, the 164 members of the World Trade Organisation (WTO) came together in June to pen several trade agreements to help address some of the world’s most pressing issues.
As rising inflation and the global food crisis place financial pressure on many countries around the world, remittance flows to emerging markets are expected to continue to provide crucial support.
Following the US Federal Reserve’s decision to raise benchmark interest rates in recent months, analysts are closely tracking the impact this will have on emerging markets and their economies.
With China’s economy slowing on the back of a strict Covid-19 containment strategy, there are concerns about the effects this might have on several emerging markets.
A number of Latin American and Caribbean countries have strengthened their ties with China after signing a wide-ranging economic and political agreement.
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