Source: Republic of South Africa (video statements)
Deputy Minister Mhlauli during Stats SA Activation Campaign
Source: Republic of South Africa (video statements)
Deputy Minister Mhlauli during Stats SA Activation Campaign
Source: Republic of South Africa (video statements)
Deputy Minister Mhlauli during Stats SA Activation Campaign
Source: Republic of South Africa (video statements)
Deputy Minister Mhlauli during Stats SA Activation Campaign
Source: Republic of South Africa (video statements)
Deputy Minister Mhlauli during Stats SA Activation Campaign
Source: Republic of South Africa (video statements)
Deputy Minister Mhlauli during Stats SA Activation Campaign
Source: Republic of South Africa (video statements)
Deputy Minister in the Presidency Nonceba Mhlauli visits the community of Saldanha Bay to support ongoing disaster relief efforts. In partnership with Gift of the Givers, the Deputy Minister assists in distributing essentials and warm blankets to affected residents.
The visit underscores government’s commitment to standing with communities during times of crisis and ensuring coordinated support reaches those in need.
Source: European Central Bank (video statements)
Tariffs and geopolitical conflicts have created uncertainty around the world. But how does the new trade environment affect inflation and the economy? How can central banks adapt? And what is the potential impact on the dominance of the US dollar ?
In the third episode of our special Sintra series of the ECB Podcast, our host Paul Gordon talks to London School of Economics Professor Silvana Tenreyro.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 4 July 2025 and recorded on 1 July 2025.
In this episode:
01:30 How is the world economy doing?
What developments are having an impact on our economy today? And what uncertainties are arising from tariffs, trade fragmentation and armed conflicts in different parts of the world?
03:30 Tariffs, trade fragmentation and the economy
How can trade tariffs and fragmentation affect economic growth and inflation in the euro area and beyond?
06:25 How are prices changing?
How are prices changing in different countries? Will tariffs cause prices in the United States to rise, and those in Asia and Europe to fall? And why?
07:55 Lessons for central banks
Given the extremely high level of uncertainty, what lessons from past shocks can central banks apply in the future? Why do we need clearly defined frameworks? And what role do governments play?
09:55 How can governments prepare for potential shocks?
Investing in technologies that are difficult to substitute, diversifying energy sources and creating buffers for critical inputs – why it’s crucial that governments have a strategy to withstand various shocks.
12:05 What is a dominant currency?
When is a currency considered internationally “dominant”? And what dominant currencies have there been in the past?
13:40 Dollar dominance and monetary policy transmission
Does dollar dominance in international trade transactions reduce the effectiveness of monetary policy?
17:30 The future of dollar dominance
How will the dominance of the US dollar develop in the future? Is its role as a primary reserve currency at risk due to the Trump Administration’s policies?
19:10 What keeps you up at night?
What happens to our economy if there is a sudden shortage of a certain input? What impact will AI have if it remains largely unregulated? And what do stablecoins and digital currencies mean for our economy?
21:00 Our guest’s hot tip
Silvana shares her hot tip with our listeners.
Further readings:
Michael McLeay and Silvana Tenreyro: Dollar dominance and the transmission of monetary policy
Sintra Series episode 1/4: Price stability in times of change
Sintra Series episode 2/4: Adapting to change: Ensuring price stability in a new geopolitical era
Silvana’s hot tip: I’m still here/Ainda estou aqui
ECB Instagram
https://www.instagram.com/europeancentralbank/
Source: United Nations (video statements)
Expo 2025 is held in Osaka, Kansai, Japan from 13 April 2025 to 13 October 2025 with the theme “Designing Future Society for Our Lives.” The UN Pavilion at Expo 2025 brings 35 United Nations entities and 15 offices together under the theme “United for a Better Future”.
Source: United Nations (video statements)
Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.
Highlights:
Secretary-General/Trip Announcement
Deputy Secretary-General
Gaza
Occupied Palestinian Territory
Lebanon
Cyprus
Ukraine
Russia
Senior Personnel Appointment
Yemen
Global Risk Report
International Days
Financial Contribution
SECRETARY-GENERAL/TRIP ANNOUNCEMENT
The Secretary-General will be arriving in Rio de Janeiro, Brazil, to attend the 17th Summit of the BRICS countries.
The Secretary-General has been invited to speak at an outreach session on “Strengthening multilateralism, economic-financial affairs and artificial intelligence”, that will take place on Sunday, 6 July. On Monday, 7 July, he will address a second outreach session, on “Environment, COP30 and global health.”
During his visit, the Secretary-General will also be having meetings with various leaders who are attending the BRICS Summit and we will share those readouts with you.
DEPUTY SECRETARY-GENERAL
Our Deputy Secretary-General, Amina Mohammed, returned to Seville today for the closing of the Fourth International Conference on Financing for Development (FFD4).
At the closing with Prime Minister Pedro Sanchez of Spain, she underscored the consensus around the Seville Agreement as a demonstration of multilateralism in action — with actions to close the SDG financing gap, address the debt crisis, and reform the international financial architecture. She recognized the more than 100 initiatives launched on the Sevilla Platform for Action, including solidarity levies on private jets and first-class travel to generate new resources for sustainable development.
She said that the UN will be operationalizing a Seville Forum on Debt to help countries learn from one another and coordinate their approaches in debt management and restructuring; that forum will be supported by Spain.
She called for FFD4 to be remembered not only as a conference that responded to crisis, but as the moment the world chose cooperation over fragmentation, unity over division, and action over inertia.
Tomorrow, she will travel to Praia, Cabo Verde, to take part in celebrations marking the 50th anniversary of the country’s independence.
GAZA
The Secretary-General is appalled by the deepening humanitarian crisis in Gaza. Multiple attacks in recent days hitting sites hosting displaced people and people trying to access food have killed and injured scores of Palestinians. The Secretary-General strongly condemns the civilian loss of life.
In just one day this week, Israeli orders to relocate forced nearly 30,000 people to flee, yet again, with no safe place to go and clearly inadequate supplies of shelter, food, medicine or water.
International humanitarian law is unambiguous: civilians must be respected and protected, and the needs of the population must be met.
With no fuel having entered Gaza in more than 17 weeks, the Secretary-General is gravely concerned that the last lifelines for survival are being cut off. Without an urgent influx of fuel, incubators will shut down, ambulances will be unable to reach the injured and sick, and water cannot be purified. The delivery by the United Nations and partners of what little of our lifesaving humanitarian aid is left in Gaza will also grind to a halt.
He once again calls for full, safe and sustained humanitarian access so aid can reach people who have been deprived of the basics of life for far too long. The UN has a clear and proven plan, rooted in the humanitarian principles, to get vital assistance to civilians – safely and at scale, wherever they are.
The Secretary-General reiterates that all parties must uphold their obligations under international law. He renews his call for an immediate permanent ceasefire and for the immediate and unconditional release of all hostages held by Hamas and other groups.
Full Highlights:
https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=03%20July%202025
Source: Republic of South Africa (video statements)
Vuk Talks with Anjani Harjeven- CEO- Womhub
Source: World Trade Organization – WTO (video statements)
On 2 July, WTO Director-General Ngozi Okonjo-Iweala received Ghana’s instrument of acceptance of the Agreement on Fisheries Subsidies from Ghana’s Ambassador Emmanuel Kwame Asiedu Antwi. Just eight more acceptances are needed for the Agreement to enter into force.
Download this video from the WTO website:
https://www.wto.org/english/res_e/webcas_e/webcas_e.htm
Source: World Economic Forum (video statements)
Trade is vital for development, but many countries face costly delays and inefficiencies. The Global Alliance for Trade Facilitation is partnering with governments, businesses, and international organizations to streamline customs, digitalize processes, and unlock global markets for SMEs.
The Alliance drives practical reforms that boost exports, cut costs, and make trade faster, safer, and more inclusive. Hear from global leaders on how public-private collaboration is reshaping trade for good.
To learn more about the Global Alliance for Trade Facilitation please visit: https://www.tradefacilitation.org/
#TradeFacilitation #DigitalTrade #SMEs #InclusiveTrade #CustomsReform
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.
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Source: European Commission (video statements)
On 3 July, Commission President Ursula von der Leyen holds a press conference together Danish Prime Minister Mette Frederiksen, on the start of the Danish Presidency.
The Danish EU Presidency will work for a strong and resolute EU that takes responsibility for its own security and for strengthening its competitiveness. This calls for the EU to match words with action and deliver on the challenges it faces. The green transition is essential to building a more secure and competitive Europe.
Follow live events and access media content here:
https://audiovisual.ec.europa.eu/en/
Stay updated — follow us on X: https://x.com/EC_AVService
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Source: United Nations (video statements)
Twenty-year old Yvonne Bejjani, who grew up in Lebanon, describes how that experience helped shaped her convictions and led her to attend the Fourth International Conference on Financing for Development as an official delegate.
Source: Republic of South Africa (video statements)
Department of Women, Youth and Persons with Disabilities briefs media ahead of Budget Vote
Source: United Kingdom UK House of Lords (video statements)
Will the government ban destructive fishing methods and protect natural marine environments?
In the latest episode of Inside Lords Questions, we catch up with Baroness Sugg who recently pressed the government on whether it plans to ban bottom trawling and dredging in marine protected areas. Find out why she raised the question and what she wants to see the government do about it.
Watch the full question to hear from other Lords members on the topic and see how the government responded https://www.youtube.com/watch?v=Q-yhktZr16s
Bottom trawling is a fishing method that drags large nets along the seafloor. Sir David Attenborough recently drew attention to the impact of this practice on areas of seabed and marine life in his new documentary ‘Ocean’.
Look out for more episodes of Inside Lords Questions where we’ll speak to different members about the questions they raise to government. Catch up on previous episodes https://www.youtube.com/playlist?list=PLilBYVf0P9abs7iH2ILMKNy1zWa5xHFB5
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Watch live events: https://parliamentlive.tv/Lords
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Source: European Commission (video statements)
The EU is staying the course on its quest to decarbonise through pragmatism, flexibility, and responsibility. By 2040, the goal is to cut emissions by 90%, a target that will drive clean tech, boost competitiveness, and build resilience against climate impacts. It’s about protecting people, empowering industries, and leading the global clean transition.
Source: World Trade Organization – WTO (video statements)
Director-General Ngozi Okonjo-Iweala met with the President of Iceland, Halla Tómasdóttir, on 1 July at the WTO. They discussed the current uncertainty faced by global trade and the world economy and emphasized the importance of collective efforts to tackle global challenges. Both leaders reiterated the importance of the multilateral trading system and the need for reform and repositioning of the WTO.
Download this video from the WTO website:
https://www.wto.org/english/res_e/webcas_e/webcas_e.htm
Source: European Central Bank (video statements)
Session 4: New industrial developments and the evolving architecture of international trade
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
(together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)
Discussant: Diego Comin, Professor, Dartmouth College
Source: European Central Bank (video statements)
Session 4: New industrial developments and the evolving architecture of international trade
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
(together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)
Discussant: Diego Comin, Professor, Dartmouth College
Source: European Central Bank (video statements)
Session 4: New industrial developments and the evolving architecture of international trade
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
(together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)
Discussant: Diego Comin, Professor, Dartmouth College
Source: European Central Bank (video statements)
Session 3: Non-bank financial intermediaries, liquidity and their prudential treatment
Chair: Luis de Guindos, Vice-President, European Central Bank
Paper: “Growth of non-bank financial intermediaries, monetary policy, and financial stability”
Author: Loriana Pelizzon, Deputy Scientific Director, Leibniz Institute for Financial Research SAFE and Professor, Goethe University Frankfurt and Ca’ Foscari University of Venice
(together with Riccardo Mattiello, Ca’ Foscari University of Venice and Warwick University, and Jonas Schlegel, Financial Economist, SAFE Policy Center)
Discussant: Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation, Federal Reserve Bank of New York
Source: European Central Bank (video statements)
Session 3: Non-bank financial intermediaries, liquidity and their prudential treatment
Chair: Luis de Guindos, Vice-President, European Central Bank
Paper: “Growth of non-bank financial intermediaries, monetary policy, and financial stability”
Author: Loriana Pelizzon, Deputy Scientific Director, Leibniz Institute for Financial Research SAFE and Professor, Goethe University Frankfurt and Ca’ Foscari University of Venice
(together with Riccardo Mattiello, Ca’ Foscari University of Venice and Warwick University, and Jonas Schlegel, Financial Economist, SAFE Policy Center)
Discussant: Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation, Federal Reserve Bank of New York
Source: European Central Bank (video statements)
Session 3: Non-bank financial intermediaries, liquidity and their prudential treatment
Chair: Luis de Guindos, Vice-President, European Central Bank
Paper: “Growth of non-bank financial intermediaries, monetary policy, and financial stability”
Author: Loriana Pelizzon, Deputy Scientific Director, Leibniz Institute for Financial Research SAFE and Professor, Goethe University Frankfurt and Ca’ Foscari University of Venice
(together with Riccardo Mattiello, Ca’ Foscari University of Venice and Warwick University, and Jonas Schlegel, Financial Economist, SAFE Policy Center)
Discussant: Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation, Federal Reserve Bank of New York
Source: European Central Bank (video statements)
A conversation about tapping Europe’s growth potential
Philippe Aghion, Professor, Collège de France and London School of Economics
Lars Feld, Professor, University of Freiburg, and Director of the Walter Eucken Institute
Moderator: Beatrice Weder di Mauro, Professor, Graduate Institute of International and Development Studies Geneva, and President of the CEPR
Source: European Central Bank (video statements)
Panel 2: Central bank communication: current challenges
Chair: Philip R. Lane, Member of the Executive Board, European Central Bank
Alessandra Galloni, Editor-in-Chief, Reuters
Carolin Pflueger, Associate Professor, University of Chicago, Harris School of Public Policy
Anna Seim, Deputy Governor, Sveriges Riksbank
Alan Taylor, Professor, Columbia University and external member of the Monetary Policy Committee of the Bank of England
Source: European Central Bank (video statements)
Award ceremony for the Young Economist Prize
Closing remarks
Christine Lagarde, President, European Central Bank
Source: United Nations (video statements)
International Day of Reflection and Commemoration of the 1995 Genocide in Srebrenica.
The observance marks the 30-year anniversary of the 1995 genocide in Srebrenica.
Co-organized by the United Nations Department of Global Communications, the Office of the Special Advisor for the Prevention of Genocide and the Permanent Mission of Bosnia and Herzegovina to the United Nations.
Source: United Nations (video statements)
Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.
———————————
Highlights:
Cyprus
Occupied Palestinian Territory
Yemen
Haiti
South Sudan
———————————
CYPRUS
Following the informal meeting on Cyprus in a broader format that was held in Geneva on 17-18 March of this year, the Secretary-General will convene on 16 and 17 July, here at UN Headquarters, the Greek Cypriot and Turkish Cypriot leaders, as well as representatives of the guarantor powers of Greece, Türkiye and the United Kingdom, for another informal meeting on Cyprus.
The meeting will provide an opportunity to continue the dialogue and exchange views on the progress made since March.
OCCUPIED PALESTINIAN TERRITORY
Turning to the increasingly dire situation in Gaza, the Office for the Coordination of Humanitarian Affairs says that overnight, Israeli authorities issued a new displacement order for two neighbourhoods in Khan Younis, following reported Palestinian rocket fire. Up to 80,000 people are estimated to be living in these neighourhoods. Approximately 85 per cent of Gaza’s territory is currently either under displacement orders or located within militarized zones – which is severely hampering people’s access to essential humanitarian support and the ability of aid workers to reach those in need.
Our colleagues working on water, sanitation and hygiene also tell us that Al Satar – a key water reservoir – has become inaccessible as a result of the order. The facility serves as the main water distribution hub for Khan Younis and a critical supply point for water coming through the Israeli pipeline in the area.
Any damage to the reservoir could lead to a collapse of the city’s water distribution system, with grave humanitarian consequences.
OCHA warns that these displacement orders continue to strain vital services and push people into increasingly smaller swaths of Gaza’s territory. Since the breakdown of the ceasefire in March and as of yesterday, some 714,000 people have been forcibly displaced once more across Gaza, with nearly 29,000 displaced in just 24 hours between Sunday and Monday.
Many existing shelters are severely overcrowded, with poor hygiene conditions – posing severe risks for public health. Our partners working on health, water, sanitation and hygiene report that across Gaza, rates of acute watery diarrhea have reached 39 per cent among patients receiving health consultations.
The increase is being driven by insufficient clean drinking and domestic water reaching shelters, worsening the dire hygiene and sanitation conditions. The governorates of Gaza and Khan Younis have the worst levels of acute watery diarrhea, due to severe overcrowding in sites and shelters.
You will recall that no shelter assistance has entered Gaza in four months, despite the hundreds of thousands of newly displaced people. Our shelter partners say that 97 per cent of the sites surveyed reported displaced people sleeping in the open. OCHA reiterates that an unrestricted flow of supplies through multiple crossing points over a sustained period of time is critical to address people’s needs and prevent the already desperate situation from worsening.
Meanwhile, the depletion of fuel stocks continues to wreak havoc on aid operations, constraining the UN and our humanitarian partners’ ability to respond.
Yet again today, an attempt to deliver some of the remaining fuel stocks to the north was denied by Israeli authorities.
The denial follows a successful delivery yesterday of diesel from the World Health Organization’s remaining stock to Al Shifa Hospital in Gaza City to prevent further shutdown of critical services. WHO says the facility is overwhelmed and severely under-resourced. Its beds are full, and patients are once again being treated on the floor.
Our partners working on emergency telecommunications stress that unless fuel stocks are replenished immediately, Gaza could face a complete communications blackout, severely hindering humanitarian access and coordination, and preventing affected communities from receiving critical information.
Critical water, sanitation, hygiene and healthcare facilities have already begun shutting down in some areas, including hospital equipment and services, water trucking, and water and sewage pumps. If the fuel crisis isn’t addressed soon, humanitarian responders could be left without the systems and tools necessary to operate safely, manage logistics and distribute humanitarian assistance. This would endanger aid workers and escalate an already dire humanitarian crisis.
Full Highlights:
https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=02%20July%202025