Finance

Unsustainable debt burdens and escalating climate shocks have left African economies with little fiscal space to invest in their future. Without a reform of the global financial system, the continent’s development and Europe’s stability face growing risks.

If the international community is to have a chance of addressing twenty-first-century challenges effectively and equitably, the global economic and financial architecture that was created eight decades ago must be radically reformed. Eight priorities stand out.

Ahead of the 80th anniversary of the Bretton Woods Conference, together with partner institutions, we propose reforms in eight critical areas of the international economic and financial architecture to reflect the changing global realities and challenges. 

Five years after the European Green Deal was launched, Europe's economic strength and security are at stake. What lies ahead for the German and European economy? A conversation with Sandra Parthie and Roderick Kefferpütz.

With the floods in northern Germany, the relaxation of the country’s debt brake is back on the agenda. But instead of always returning to the same debates, what is finally needed is sustainable reform. A new study shows what this could look like and sets out the options for financing climate protection over the short term.

In the run-up to the annual meeting of the Asian Infrastructure Investment Bank (AIIB) on October 26–28, the Heinrich Böll Foundation presents an analysis of what transparency requirements the AIIB has met following the review of its Environmental and Social Framework for financing. China controls the Bank, but European countries such as Germany and France are shareholders. They have always justified their participation in the AIIB by wanting to enforce high environmental and social standards and more transparency.

As well as in 2008, the very necessary, unavoidable actions of central banks now in the Covid-19 crisis have massive side effects: cheap money is fostering asset price inflation, fueling inequalities. At the same time, central banks are still disregarding climate risk in the way they treat fossil assets as collateral.