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siennanordquist.bsky.social
Sienna Nordquist
@siennanordquist.bsky.social
960 followers 420 following 350 posts
PhD Candidate at Bocconi 📚 CWAR Fellow at Wolfson College, University of Oxford 📜 Posts about 🇪🇺🇩🇪🇮🇹🇫🇷🇬🇧🇺🇸🗳️💡🍨🌅🌄 siennanordquist.com
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siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 11h
Here I go again! Thrilled to share I have started a period as a Visiting Researcher at Georgetown University this week…which means I’m also around for the #IMF-#World Bank #AnnualMeetings. Let me know if you’re around DC and want to catch up, now or in the coming weeks
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siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 4h
That’s all for now! Buonanotte tutti and see you tomorrow 😴. Started my day at 5:30 AM with Truman archive documents and ended it with this view. The life of a PhD student 😅
siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 5h
6/ Lastly, she thanked Sec Bessent for his engagement with the IMF and said the bank membership is committed to the 16th Quota Review and increasing quotas by 50%.
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Sienna Nordquist @siennanordquist.bsky.social · 5h
5/ The greater the uncertainty in the world, the more members want to talk to each other and the IMF
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siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 5h
4/ The IMF is completing its Comprehensive Surveillance Review this year. Regional Surveillance may be added to bilateral and multilateral surveillance because of the regionalizing nature of the multipolar world we are in
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siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 5h
3/ Demography is the big risk!
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siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 5h
2/ The real reason outlook has improved is because countries have not (largely) retaliated with tariffs of their own. Most trade is still on MFN, although lower than Jan 2025
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Sienna Nordquist @siennanordquist.bsky.social · 5h
Takeaways from Managing Director Georgieva’s remarks:
1/ The US’s April tariff rate was above 37%, whereas now the effective rate is 9-10%. This is why the IMF has upgraded forecasts since April, but they are still slightly below last year’s AMs…
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Sienna Nordquist @siennanordquist.bsky.social · 5h
5/ The first WB CLO (the selling of bonds to investors backed by loans) was received very positively. The private sector panel noted another CLO will be coming, as the WB seeks to far surpass efforts to have private partnerships drive development finance in this unstable era
siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 5h
4/ Political risk insurance is key and has grown 30% at the WB, keeping the institution ahead of schedule of doubling by 2030.
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Sienna Nordquist @siennanordquist.bsky.social · 5h
3/ Standardizing through scale can make change possible. Banga used the example of how and why France was able to build up its nuclear energy program in the postwar era
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Sienna Nordquist @siennanordquist.bsky.social · 5h
2/ The new Full Neutral Reliance Frameworks (FNRF) will allow WB and partner MDBs to complete underwriting, procurement, and approval steps recognizing the others’ efforts. This will dramatically reduce the paperwork and individual submissions by partner states
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Sienna Nordquist @siennanordquist.bsky.social · 5h
Takeaways from Pres. Banga’s remarks:
1/ World Bank has undergone lots of efforts to shorten the average time from project idea to approval (19 to 12 mo), and will have one country manager per client by the end of this year, slimming how they work with partner countries
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Sienna Nordquist @siennanordquist.bsky.social · 6h
10/ Finally, Peterson termed those willing to invest in development the “coalition of the willing”. As an IR scholar, I am taking note of how this term is moving from security to development to private sector language! 📝
siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 6h
9/ I was heartened to see the private sector not only believes in institution building, but also (enthusiastically!) defended the multilateral trade system and saving the institutions that have served humanity so well since WWII
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Sienna Nordquist @siennanordquist.bsky.social · 6h
8/ Private sector recognizes that emerging markets have been more resilient in recent crises than advanced economies.
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Sienna Nordquist @siennanordquist.bsky.social · 6h
7/ The private sector wants the public sector to see infrastructure as an investment, not an expenditure. This means thinking and planning it in a framework to grow economies, jobs, and modernization
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Sienna Nordquist @siennanordquist.bsky.social · 6h
6/ What matters more than tech advancements (AI, digital currency) is the underlying process of unifying data and information. That’s where the real $€¥£ is
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Sienna Nordquist @siennanordquist.bsky.social · 6h
5/ The majority of economic growth will come from domestic markets, not international ones, but again this requires the right institutions and regulations from the public sector that allow the private sector to innovate and investors to feel safe/legal in their investments
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Sienna Nordquist @siennanordquist.bsky.social · 6h
4/ Where is it needed? Private sector and Banga agree it is in countries that are becoming younger, whereas the challenge is capital/wealth are concentrated in aging societies now
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siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 6h
3/ MDB-World Bank collaboration is increasing, and part of this is outcomes from the private sector influenced Labs within the World Bank. Private sector recommends a new asset class that can get the financing needed and to where it is needed
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Sienna Nordquist @siennanordquist.bsky.social · 6h
2/ Financing will be done increasingly in local currencies to avoid these risks. But that requires new local/domestic institutions around bankruptcy law, and advanced regulatory and banking systems
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Sienna Nordquist @siennanordquist.bsky.social · 6h
Takeaways from the Bretton Woods Committee private sector round table:

1/ Long-term investments face the greatest risk from foreign exchange volatility (other than tariff risks, which were the unspoken elephant in the room)
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siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 11h
Here I go again! Thrilled to share I have started a period as a Visiting Researcher at Georgetown University this week…which means I’m also around for the #IMF-#World Bank #AnnualMeetings. Let me know if you’re around DC and want to catch up, now or in the coming weeks
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siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 4d
And here's a great @politico.com explainer on how this potential merger is intertwined with Catalan politics, centralization, and a competing vision of capital access for SMEs vs more competitive 🇪🇺 banking via mergers www.politico.eu/article/bank...
‘The insatiable dragon is here’: How a banking deal fired up Catalan politics
Catalans don’t want local banking champion Banc Sabadell to be acquired by Madrid-based BBVA, creating a headache for Prime Minister Pedro Sánchez.
www.politico.eu
siennanordquist.bsky.social
Sienna Nordquist @siennanordquist.bsky.social · 4d
Today is the day for Sabadell investors to decide whether to sell their shares to BBVA, after Zurich Insurance Group rejected the offer earlier this week #SpanishBanksWatch
elpais.com/economia/202...
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