Economist Ahmadou Al Aminou Lo Appointed as Prime Minister of Senegal Amid Ongoing Political Tensions
Lo's appointment as the new Prime Minister on Tuesday comes just days after the controversial ousting of Ousmane Sonko last Sunday. The dismissal sparked tensions within the political landscape, with many viewing it as a pivotal moment in Senegal’s ongoing crisis. Ahmadou Al Aminou Lo, a former official at the Central Bank of West African States, was appointed due to his extensive knowledge of the economy and finance. Following his appointment, Lo addressed the challenging financial situation, stating, "Senegal is a safe and viable country and intends to remain so." He emphasized that his approach would be rooted in integrity and transparency, principles that Sonko also championed. Senegal's economic troubles are underscored by an alarming national debt amounting to 132% of the GDP, which had stalled a previously agreed $1.8 billion aid program from the International Monetary Fund (IMF). While Faye is openly in favour of restructuring debt and further aid, Sonko has publicly opposed this. Faye's removal of Sonko as Prime Minister and the appointment of Lo, whose experience in central and international banking is likely to lend credibility to further or adjusted debt, is likely to be seen as an extension of this disagreement. Following the tumultuous government shake-up, the parliament voted yesterday on Sonko’s reinstatement as speaker, a decision that has prompted accusations of an "institutional coup" from opposition leaders. Although no longer Prime Minister, Sonko's position as speaker is an influential one, which sets up potential conflict between Sonko and his supporters on the one side, and the government led by Faye and Lo, on the other. Since taking office, both Faye and Sonko promised to implement political reforms and combat corruption, a stance that resonates with the electorate's desire for change. However, with the political dynamics shifting dramatically, the future of Senegal's governance and economic strategy remains uncertain as Faye and Sonko's once-allied relationship deteriorates.
Senegal's President Bassirou Diomaye Faye has appointed former regional central banker Ahmadou Al Aminou Lo as Prime Minister following the dismissal of Ousmane Sonko. The decision comes as the country grapples with a significant debt crisis and rising political tensions, threatening crucial reforms tied to IMF support.
Katharina Bergant and Simone Tagliapietra Appointed as Bruegel Deputy Directors
Following a unanimous decision by Bruegel’s General Assembly on May 12, 2026, the Brussels-based economic think tank announced the appointment in a press release. Bergant and Tagliapietra will start their new positions in autumn 2026. Katharina Bergant: “ECB Conference on Monetary Policy 2024” by European Central Bank, (licensed under CC BY-NC-ND 2.0 - permission kindly confirmed by bruegel) // Simeone Tagliapietra: bruegel (permission kindly granted) Katharina Bergant, currently an Economist at the International Monetary Fund (IMF), will join Bruegel as Deputy Director in November 2026. She has extensive experience in macro-financial topics and has contributed to various flagship publications of the IMF. Her past roles include work in the IMF’s Western Hemisphere Department and a research fellowship at Harvard Kennedy School. She has also worked at the Central Bank of Ireland, and completed her PhD at Trinity College Dublin. Simone Tagliapietra, a Senior Fellow at Bruegel since 2015, will assume his Deputy Director position starting September 2026. His focus areas include EU climate and energy policy, and he has played a significant role in the development of EU industrial strategy that aligns with decarbonization and economic competitiveness. He has previously held roles at the European University Institute, Johns Hopkins University and the Catholic University of Milan, where he also completed his PhD. Both appointees expressed excitement about their new roles. Bergant emphasized the importance of analytical institutions in the face of global challenges, while Tagliapietra reflected on his dedication to supporting Bruegel’s mission and advancing impactful economic policy. Bruegel’s Director, Jeromin Zettelmeyer, remarked on the significance of these appointments, noting that both directors bring complementary experiences, enhancing the institution’s capability to engage with pressing economic issues. Under their leadership, Bruegel aims to continue fostering rigorous economic research and contributing to effective economic policy across Europe. Image Credits: Katharina Bergant: “ECB Conference on Monetary Policy 2024” by European Central Bank, (licensed under CC BY-NC-ND 2.0 - permission kindly confirmed by bruegel) Simeone Tagliapietra: bruegel (permission kindly granted)
Bruegel has announced the appointment of Katharina Bergant and Simone Tagliapietra as its new Deputy Directors, set to begin their roles in autumn 2026.
Public Economics & Economic Policy (JEL H)
EBRD Appoints Grzegorz Zielinski as Managing Director for South-Eastern Europe
Zielinski takes over from Charlotte Ruhe, who will retire at the end of June after leading the Bank’s operations in the broader central and south-eastern Europe region. In his new role, Zielinski will oversee EBRD's projects and initiatives across the six Western Balkans countries, as well as Bulgaria, Romania, and Greece. Based in Belgrade, he aims to facilitate investments that achieve substantial benefits, tackle regional challenges, and promote sustainable long-term growth. His collaboration with country teams, public authorities, and private-sector clients will be pivotal for advancing investments, policy discussions, and reform activities throughout the region. Grzegorz Zielinski, a Polish national, has a rich history with the EBRD, having joined the organization in 1998 from Ernst & Young. Over his career, he has held several notable positions, including Director of the Energy Europe team within the Sustainable Infrastructure Group. His expertise in managing complex investment programs and policy reforms has established a strong foundation for his upcoming role. His appointment comes at a crucial time for South-Eastern Europe, a region characterized by diverse economies at various developmental stages and significant reform needs. The EBRD’s focus in the area aims to promote sustainable infrastructure, enhance energy security, and encourage private-sector competitiveness while fostering institutional reforms for resilient and inclusive growth.
The European Bank for Reconstruction and Development (EBRD) has appointed Grzegorz Zielinski as the new Managing Director for South-Eastern Europe, effective June 1, 2026, succeeding Charlotte Ruhe.
Economic Development, Innovation and Growth (JEL O)
EBRD Appoints Matteo Colangeli as Managing Director for SME Finance and Development
Effective June 1, 2026. Colangeli's extensive background in regional banking will help advance support for SMEs across the Bank's operational regions. He will be based at the bank's headquarters in London. Colangeli brings over two decades of experience with the EBRD, having started his career at the bank in 2005. He has worked in various regional sector banking teams across the EBRD’s operational countries, including Kyiv, Sofia, Tirana, and Belgrade. Most recently, he served as the Director and Regional Head of the Western Balkans, where he significantly increased the Bank's operations in the region, achieving annual investment volumes of €1.6 billion along with fostering partnerships across governments, businesses, and donors. His track record highlights his commitment to sustainable business growth, advancing policy engagement, and building successful regional teams. Colangeli's efforts in the Western Balkans have enhanced the integration of banking and advisory services, expanding access to finance for SMEs through innovative risk-sharing instruments and initiatives like the Enterprise Expansion Fund. In his new role, Colangeli aims to leverage his extensive experience to bolster the Bank's efforts in supporting small and medium-sized enterprises across its regions. Colangeli's promotion comes together with the announcement of two new regional managing directors: Andreea Moraru for Central Europe and the Baltic States, and Grzegorz Zielinski for South Eastern Europe. Image Credits: EBRD (may be used for editorial purposes)
The European Bank for Reconstruction and Development announces the appointment of Matteo Colangeli as Managing Director for SME Finance and Development.
EBRD Appoints Andreea Moraru as Managing Director for Central Europe and the Baltic States
Effective June 1, 2026, Moraru, who previously held the title of Director for Poland and the Baltic States, will now oversee operations in several key countries including Croatia, Hungary, Poland, the Slovak Republic, Slovenia, Estonia, Latvia, and Lithuania. In her new role, Moraru will focus on enhancing the EBRD’s engagement to ensure that investments are impactful in terms of addressing regional challenges and promoting long-term sustainable growth. Based in Warsaw, she is expected to collaborate closely with country teams, public authorities, and private sector clients to advance investments, policy dialogue, and reform initiatives throughout the region. Throughout her career, she has also held leadership positions, such as Director for Greece and Cyprus, leading to substantial growth in corporate business in Greece while managing the closure of operations in Cyprus. The EBRD’s initiatives in Central Europe and the Baltic States are crucial due to the region's blend of advanced economies alongside areas with ongoing reform needs, with objectives centered on enhancing competitiveness, fostering innovation, and supporting a green economy transition. Ms. Moraru takes over from Charlotte Ruhe, who will retire at the end of June. With over 20 years of experience at the EBRD, Moraru has established a successful track record in delivering significant business growth, policy engagement, and developing partnerships with various stakeholders, including governments and financial institutions.
The European Bank for Reconstruction and Development (EBRD) has announced the appointment of Andreea Moraru as Managing Director for Central Europe and the Baltic States.
Abdoulaye Ndiaye Wins First Africa NextGen Economist Prize
The Announcement was made on X by the Africa CEO Forum, an international business and economics conference., which took place this year in Kigali, Rwanda. Abdoulaye Ndiaye, from Senegal, is assistant professor at NYU Stern School of Business. He graduated from École Polytechnique and has a PhD from Northwestern University. His research focused on public finance, development economics, and political economy. He tackles questions of immediate relevance for African governments and investors: unemployment insurance in economies with high informality, tax productivity, and sovereign debt management. The Africa NextGen Prize is a new initiative spearheaded by The Africa Report and Jeune Afrique. There were over 70 candidates across 14 African countries, which were analysed by an independent jury of leading African economists, Abdoulaye Ndiaye embodies what the prize set out to celebrate: rigorous, useful work oriented toward public action and serving citizens, decision-makers, and the private sector alike.
Abdoulaye NDIAYE (NYU Stern) has been announced as the inaugural winner of the Africa NextGen Economist Prize.
IPPS-Iscte Launches Atlas of Portugal in Europe Platform
The platform is accessible and free to use, and serves as a vital resource for exploring socio-economic indicators across Europe. The launch was announced by ISCTE. The Atlas provides a comprehensive collection of data allowing users to consult, compare, and analyze various indicators concerning demographic changes, labor markets, inequality, social protection, health, education, housing, justice, environment, and mobility. Isabel Flores, the executive director of IPPS-Iscte, describes the platform as an "analytical tool with a point of view" that enables comparative analysis of Portugal against other European countries as well as the average EU statistics. The platform, which has been developed in partnership with Colabor, categorizes indicators into three main sections, facilitating country-to-country comparisons and providing insights into electoral results from 1986 to the present across the entire European continent. According to Flores, the platform stands out from more neutral data portals by offering a structured perspective. This initiative not only highlights Portugal's journey within the EU but also serves as a valuable tool for public analysis, electoral observation, and formulating effective public policies. To explore the Atlas of Portugal in Europe, visit: Atlas of Portugal.
On the 40th anniversary of Portugal's accession to the EEC, the Iscte Institute for Public and Social Policies (IPPS-Iscte) introduces the Atlas of Portugal in Europe, an interactive platform featuring essential socio-economic indicators to analyze and compare Portugal’s progress with other EU nations.
Macroeconomics and Monetary Economics (JEL E)
Kenza Benhima Appointed CEPR Visiting Chair
The appointment of Benhima is part of the ongoing efforts to bolster collaboration within the French and international economics research communities, with the support of the French government and various sponsors. The initiative aligns with the "Choose France for Science" programme launched by President Emmanuel Macron on May 5, 2025. It aims to enhance France’s scientific attractiveness, expand policy impact, and foster essential partnerships with both public and private decision-makers in France. Professor Benhima, a renowned faculty member in Macroeconomics at the University of Lausanne and a CEPR Research Fellow in the International Macroeconomics and Finance programme, will serve in the role for three months starting on May 1, 2026. During her residency, she is expected to significantly contribute to initiatives aimed at strengthening scientific cooperation across the French economic research and policy landscape. In addition to her research, she will deliver a masterclass and provide mentorship to a select group of PhD students from various French academic institutions. Benhima’s research specialization encompasses financial macroeconomics, international finance, and monetary economics. This appointment follows the earlier selection of Vicente Cuñat as CEPR’s first Visiting Chair of 2026.
The CEPR has appointed Kenza Benhima as its next Visiting Chair, continuing its initiative within the French economic research community. Benhima will hold the position for a three-month term, operating from Sciences Po and mentoring PhD students.
Whitney K. Newey Awarded Nemmers Prize in Economics
Whitney K. Newey, the Ford Professor of Economics Emeritus at MIT, was recognised for his significant contributions to semiparametric econometrics and modern machine learning-based inference. Newey's pioneering work has guided econometricians and empirical researchers over several decades, laying crucial foundations for modern machine learning-based inference. His contributions include significant advancements in variance estimation, nonparametric simultaneous equations, and consumer surplus estimation with heterogeneity. He is known for developing, together with Kenneth D. West in the late 1980s, the Newey–West estimator, which robustly estimates the covariance matrix of a regression model where the standard assumptions of regression analysis do not apply. Notably, his influential 1994 paper in Econometrica introduced general formulae for the asymptotic variance of semiparametric estimators. Renowned as a Distinguished Fellow of the American Economic Association and a member of the American Academy of Arts and Sciences, Newey's achievements firmly place him at the forefront of econometrics. His reputation is further bolstered by his fellowship in the Econometric Society. Newey is scheduled to visit Northwestern University during the 2026-27 academic year, where he will engage in collaborative programming with faculty and students from the Economics department. This recognition of Newey's contributions not only highlights his individual achievements but also underscores the continued importance of econometrics in addressing complex economic questions in an increasingly data-driven world. About the Erwin Plein Nemmers Prize in Economics The Prize was established in 1994 and is awarded for achievement and work of lasting significance in the field of economics. It comes with a reward of $300,000. Recipients of the Erwin Plein Nemmers Prize present lectures, participate in department seminars, and engage with Northwestern faculty and students in other scholarly activities. Past winners have included Michael Woodford, Claudia Goldin and Daron Acemoglu. Image Credits: With kind permission from Prof. Whitney Newey, via Northwestern University
Whitney K. Newey, a prominent figure in econometric theory, receives the 2026 edition of the $300,000 Erwin Plein Nemmers Prize.
Econometrics, Statistics and Quantitative Methods (JEL C)
2026 Guggenheim Fellows: One Economist, Two Data Scientists
The John Simon Guggenheim Memorial Foundation has unveiled its 101st class of Guggenheim Fellows, recognizing 223 distinguished individuals from various fields. Chosen from a competitive pool of approximately 5,000 applicants, this year's Fellows represent an array of 55 disciplines, showcasing the best in artistry, science, and scholarship. Edward Hirsch, President of the Guggenheim Foundation, expressed pride in the new class, highlighting their potential to contribute boldly to society's challenges. Each Fellow receives a monetary stipend to pursue independent creative work in an unfettered environment, continuing the Foundation's mission established in 1925. This year's applicants saw a significant rise in submissions, with Creative Arts and Humanities applications increasing by 50% and Sciences by 86%. The selected Fellows range in age from 28 to 76 and include both established scholars and those without full-time academic affiliation. Fellowships in fields related to economics, finance and data science were awarded to: Ran Abramitzky (Economics) Ran Abramitzky is Professor of Economics and Senior Associate Dean of Social Sciences at Stanford University. His research is in economic history and applied microeconomics, with focus on immigration and income inequality. He holds a PhD from Northwestern University. He is known beyond the field of economics for his 2022 book: Streets of Gold - America's Untold Story of Immigrant Success (affiliate link). Yin Cao (Data Science) Yin Cao is an epidemiologist at Washington University in St. Louis. Her focus is on how cancers develop, how to prevent them, and the impact on younger patients. She is the principal investigator of her own lab, leading and collaborating on several ongoing research projects. Dr. Cao earned her master's degree from Columbia University, and her doctor of science degree from Harvard University T.H. Chan School of Public Health. Matias D. Cattaneo (Data Science) Matias D. Cattaneo is a Professor of Operations Research and Financial Engineering at Princeton University and an Amazon Scholar. He studies the mathematical foundations of data science at the intersection of econometrics, statistics, machine learning, and artificial intelligence. His research develops statistical and computational methods for the social, behavioral, and biomedical sciences, with emphasis on program evaluation and causal inference. He earned his Ph.D. in Economics and an M.A. in Statistics from the University of California, Berkeley, as well as a Master in Economics from Universidad Torcuato Di Tella in Argentina. The Guggenheim Foundation has been dedicated to fostering creativity and scholarship since its inception, with nearly $450 million awarded to over 19,000 individuals, including 125 Nobel laureates.
The John Simon Guggenheim Memorial Foundation has announced its 101st class of Guggenheim Fellows, featuring 223 remarkable artists, scientists, and scholars selected from nearly 5,000 applicants across 55 fields. Of these, one is an economist, and two are data scientists.
TU Dublin Economics and Finance Students Achieve First Prize at Goodbody Managed Fund Competition
The winning team was led by Head of Fund Matas Galinis and Chief Investment Officer Petar Martic, alongside analysts Ben Freeney, Cathal Ennis, Hamzat Salam, Harry Fennell, Kawana Brancallião, Joshua Molyneux, and Luka Chepikov. The award took place on Monday, 20 April. This remarkable achievement reflects the extensive research and rigorous analysis that the students undertook during the competition. They received strong academic support from their Investment and Portfolio Management lecturer, Ruth O’Leary. Second place went to a team from Dublin City University, whom the judges described having demonstrated "deep understandings of their portfolio and the associated risks". The Goodbody competition is designed to provide advanced undergraduate students with valuable real-world experience in investment management by allowing them to apply theoretical knowledge in a practical setting. Participants are challenged to manage a simulated investment portfolio, developing strategies based on macroeconomic trends and company fundamentals. Staff from the financial services and stockbrokers' firm Goodbody work with undergraduate students to get hands-on experience of managing equity funds. Teams were entered from multiple Irish universities, including TU Dublin, Trinity College Dublin, University College Dublin, University College Cork, NUI Maynooth, ATU Galway, University of Limerick and Dublin City University. The teams needed to utilise advanced analytical skills developed during their undergraduate Economics and Finance programs. Their work involved macroeconomic analysis, company valuation, and assessing risks, which are crucial for efficient long-term fund allocation. In addition to their technical expertise, the winning team from TU Dublin exhibited strong capabilities in pitching investment ideas and teamwork – key skills highly valued in the financial services industry. The result was announced in a LinkedIn post, and also announced by winners TU Dublin, who understandably highlighted the achievement as evidence of the strength of its Economics and Finance programme in preparing students for successful careers in investment and financial analysis. Image Credits: tudublin.ie (permission kindly granted by request)
Students from the TU905 BSc Economics and Finance programme at TU Dublin have triumphed at the Goodbody Student Managed Fund Competition, showcasing their expertise in investment management.
Economist Meghan Quinn appointed as New Defence Secretary in Australia
Australian Prime Minister Anthony Albanese has announced the forthcoming appointment of Meghan Quinn as the new Secretary of the Department of Defence, marking a significant milestone in Australian governmental history. This appointment makes Ms. Quinn the first woman to substantively lead the department, working under the elected Minister for Defence, Richard Marles. Ms. Quinn comes with an impressive background, currently serving as the Secretary of the Department of Industry, Science and Resources. Over her career, she has been involved in advising the government on various Australian and international policy matters and has held prominent roles at the Department of the Treasury. She was also the head of the Secretariat for the ‘Australia in the Asian Century White Paper’ at the Department of the Prime Minister and Cabinet. Notably, Ms. Quinn's contributions to public service were recognized in 2009 when she received the Public Service Medal for her exceptional work on climate change policy. Her new role as Secretary of the Department of Defence will commence on May 18, 2026, with a term lasting five years. Prime Minister Albanese extended his gratitude to the outgoing Secretary, Greg Moriarty, who will transition to the role of Australian Ambassador to the United States. Albanese also acknowledged Cath Patterson for her service as acting Secretary during this transition period. The appointment was also welcomed by the Australian Minister for Defence, Richard Marles, who stated that Ms Quinn’s experience in public administration and strategic leadership means she will be well placed to lead Defence into the future. This appointment is likely to be seen as a progressive step for gender representation in leadership roles within the Australian government. Image Credits: Australian Government - Department of Industry, Science and Resources
Australia announces the appointment of Meghan Quinn as the first female Secretary of the Department of Defence, starting on May 18, 2026.
Economist Christopher Phelan Nominated by Trump for CEA Chair
If confirmed by the senate, Phelan will succeed Stephen Miran, who left the position last September to join the Federal Reserve Board of Governors. Currently, Pierre Yared, the council's vice chairman, has been acting as interim leader of the CEA during the transition period. Phelan's extensive background in economics, particularly his expertise in central bank operations, is expected to complement Trump's commitment to shaping economic policies focused on lower interest rates. Phelan holds an undergraduate degree from Duke University and a doctorate from the University of Chicago. He is also a Fellow of the Econometric Society. His previous associations with the Federal Reserve Bank of Minneapolis, first as an economist and later as a consultant, position him as a strategic asset to Trump's economic agenda. This nomination highlights Trump's ongoing efforts to reinforce his economic team at a time when discussions surrounding monetary policy are increasingly prominent. Confirmation from the Senate is still pending to finalize Phelan's appointment. In a press release, the University of Minnesota congratulated Phelan on his nomination. Image Credit: University of Minnesota Economics Department (umn.edu)
Economist Christopher Phelan has been nominated by President Trump to lead the White House Council of Economic Advisers, as part of efforts to strengthen his economic team amidst calls for lower interest rates.
Ludwig Straub Awarded John Bates Clark Medal 2026
Straub, a prominent macroeconomist, has been honored with the John Bates Clark Medal for 2026 in recognition of his outstanding contributions to the field of economics. Straub's work focuses on the incorporation of agent heterogeneity into macroeconomic modeling, examining how individual differences in behavior influence aggregate economic dynamics. Originally from Germany, Straub's path as an economist has been an unconventional one. Starting with a bachelor's degree in Physics from LMU Munich, he then completed a Master's degree in Mathematics at Cambridge University in the UK, before switching to economics for his PhD at MIT, which he completed in 2018. He then started at Harvard in 2018 in a postdoc position, and was awarded a full-professorship in 2024. His research tackles significant issues such as the relationship between household debt, income inequality, and interest rates. In his influential paper "Indebted Demand," co-authored with Atif Mian and Amir Sufi, Straub developed a framework linking disproportionate consumption behaviors and household debt to shifts in aggregate demand and interest rates. This model explains how increased debt levels among lower-income households can lead to a decrease in overall demand and a prolonged low-interest rate environment. Furthermore, in the publication "The Intertemporal Keynesian Cross," Straub explores the impact of heterogeneous consumption rates on the effectiveness of fiscal policy over time. His research underscores the relevance of distributional dynamics in understanding macroeconomic policies, providing a clearer picture of how current spending can affect future demand. Straub's innovative methods for solving and estimating heterogeneous-agent macro models have also transformed economic analysis. His work, including the paper "Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models," introduces new approaches that clarify the connections between individual behaviors and broader economic responses to shocks. In the prize citation on the AEA website, the award of the John Bates Clark Medal acknowledges his profound impact on modern macroeconomic thought. The John Bates Clark Medal is awarded annually by the American Economic Association to an economist under the age of forty, employed at a US institution, who is judged to have made the most significant contribution to economic thought and knowledge. Straub follows Stefanie Stantcheva, the winner in 2025, and joins a prestigious group of previous winners, including many economists who have subsequently won the Nobel Prize such as Esther Duflo (Clark Medalist in 2010), David Card (1995), Paul Krugman (1991), Joseph Stiglitz (1979), and Milton Friedmann (1951).
Ludwig Straub has been awarded the prestigious John Bates Clark Medal for his significant contributions to macroeconomic modeling. His research addresses agent heterogeneity and its impact on economic dynamics, particularly in relation to consumer behavior and fiscal policy.
National Bank of Slovakia Announces New Research Funding Opportunities
The Foundation of the National Bank of Slovakia has launched a grant call aimed at promoting projects in the fields of economic and financial research. Researchers and institutions are invited to submit proposals, which may include applications for doctoral studentship funding, across various economic research disciplines. Interested applicants can request grants starting from €5,000, with a total of up to €70,000 set aside for successful proposals. The Foundation emphasizes support for a broad spectrum of research topics but has stated that i will prioritize studies that align with identified priority areas, such as: Transmission of monetary policy and inflationary effects on households and businesses Macroeconomic implications for the real estate market Price dynamics across sectors Impact of population ageing and migration on labor markets Economic and financial ramifications of climate change While applications are encouraged on various topics, there is a thematic preference for research directly related to Slovakia, Central Europe, and the euro area, reflecting the analytical needs of the National Bank of Slovakia. The supported projects will last between 12 and 39 months, between October 1, 2026 and December 31, 2029. For those interested in applying, the deadline for submission is set for June 10, 2026. For more details, visit the Scholarships and Funding listing on INOMICS
The National Bank of Slovakia is inviting research proposals to support economic and financial studies, with grants ranging from €5,000 to €70,000.
Syria Establishes Joint Business Councils with Spain, Italy and Lebanon.
The Syrian Minister of Economy and Industry, Nidal al-Shaar, has officially established the Syrian-Spanish Business Council to strengthen economic collaboration between Syria and Spain. The council is intended to facilitate closer ties and improve trade relations. The news was announced by Syria's official news agency, SANA. According to a decree released by the Ministry, Maher al-Safi has been appointed as chairman of the council, which will function under the regulations that govern Syrian joint business councils established with partner countries. This council aims to create a solid framework for trade coordination, investment facilitation, and joint ventures between Syrian entrepreneurs and their international counterparts. This recent formation follows the Ministry's quick succession of diplomatic and economic appointments, including the creation of the Syrian-Italian and Syrian-Lebanese Business Councils just last week. Each of these councils serves as key legal and organizational structures to enhance economic activities. After decades of civil war, the initiatives are an example of Syria seeking new economic partnerships to improve its position in the international trade landscape, and more widely in the international community.
Damascus, Mar. 26 (SANA) — Syria has formed a joint business council with Spain to enhance economic cooperation and explore partnership opportunities. This follows similar initiatives with other countries in recent weeks, and is part of a broader strategy to engage more deeply with international markets.
Boris Vujčić Appointed Vice-President of the European Central Bank
The European Council has announced the appointment of Vujčić, a prominent Croatian economist and currently the Governor of the Croatian National Bank, for a non-renewable term of eight years, commencing on June 1, 2026. Vujčić succeeds Luis de Guindos in this crucial role. This decision comes after consultation with the European Parliament and the ECB's Governing Council. The Eurogroup endorsed Mr. Vujčić’s candidacy back on January 19, 2026, and the Council formally adopted a recommendation for his appointment shortly thereafter on January 26, 2026. Appointments to the ECB executive board are conducted by the European Council, relying on a qualified majority. The board members are selected based on their recognized standing and professional experience in monetary or banking matters. The ECB executive board, responsible for executing the eurozone's monetary policy as dictated by the Governing Council, comprises the President, Vice-President, and four additional members, one of whom is designated as the Chief Economist. All members are appointed for eight-year terms without the possibility of renewal. The board members collaborate with the governors of the national central banks within the eurozone to manage monetary policy. Vujčić’s background includes significant experience in monetary policy, making him a competent fit for this pivotal position at the ECB during a critical time for the eurozone's economy. He was a leading figure in the planning and implementation of Croatia's own accession to the Euro currency. The appointment is interesting, not least because Croatia only joined the Eurozone in 2023, and has only been a member of the EU since 2013. The appointment sets a tone for new members stepping up to take on more significant positions within the bloc. It is not unprecedented that smaller EU countries are represented on the ECB Board, or even among the three big positions of President, Vice President and Chief Economist. Indeed, currently the Chief Economist position is held by Philip Lane, an Irish economist. However, the major roles at the ECB have generally been held by individuals from the larger EU economies, i.e. Germany, France, Spain and Italy. In contrast, Croatia is one of the smallest economies in the EU - eighth smallest by GDP and fifth smallest by GDP per capita (of the 27 member states using 2024 figures) - and the appointment of Vujčić to the ECB's second most senior position is likely to raise eyebrows. There is certain to be some behind-the-scenes competition in the coming year for the two other senior positions of President, which is currently held by Christine Lagarde (France) and will expire in October 2027, and Chief Economist, which is currently held by Philip Lane (Ireland) and will expire in May 2027. Another board position, currently held by German economist Isabel Schnabel, will expire in December 2027. Thus begins a year-long game of musical chairs at the ECB, and backroom jostling in European Council meetings by the member states. Image Credits: consilium.europa.eu
The European Council has appointed Boris Vujčić as the new Vice-President of the European Central Bank (ECB).
2025 Royal Economic Society Prize Winners Announced - Perino, Ritz and van Benthem on Climate Policy
The Royal Economic Society (RES) has <a href="https://The Royal Economic Society (RES) has announced that the 2025 Royal Economic Society Prize will be awarded to Grischa Perino, Robert Ritz, and Arthur van Benthem for their article titled ‘Overlapping Climate Policies’, published in the October 2025 issue of The Economic Journal. The award recognizes the authors' framework, which examines how unilateral jurisdictional policies, such as coal phase-outs or renewable energy supports, interact with broader multi-jurisdictional systems like the EU Emissions Trading System (ETS). The committee emphasized the analysis's relevance to current climate policy debates, highlighting its potential as a tool for policymakers to measure climate effectiveness. In their joint statement, the winners expressed their hopes that their research will serve as an essential resource as global policymakers develop effective climate portfolios. They stated, "Our paper offers a unified framework to study the interaction between several climate policies targeted on the same emitters. Seemingly minor details can make all the difference for whether the policy mix is effective at cutting emissions." They further expressed their gratitude for receiving the RES Prize. Grischa Perino is professor for environmental economics at the University of Hamburg and the managing director of the Earth & Society Research Hub (ESRAH). His research interests include several areas in environmental, climate and applied micro-economics. He is an expert on carbon market design - in particular the Market Stability Reserve in the EU Emissions Trading Scheme (ETS) - and has advised the European Commission, the German Ministry for Economic Affairs, and the German Environment Agency. Find out more on his faculty webpage or his personal site. Robert Ritz is a fellow and lecturer at Peterhouse College, University of Cambridge. He specialises in the interface between climate policy, industrial organisation and energy economics. He has worked as an advisor to the UK's energy regulator (OFCOM) and the UK's antitrust body, the Competition & Markets Authority. He was previously a research fellow at the University of Oxford, where he also received his PhD. You can find out more on his faculty profile or on his personal website. Arthur van Benthem is a Professor of Business Economics and Public Policy at Wharton, University of Pennsylvania, where he is co-director of the Wharton Climate Center. His research specialises in environmental and energy economics. He studied at the University of Amsterdam and at Stanford, where he gained his PhD. You can find out more about Dr. van Benthem on his faculty page or his personal site. The Prize will be awarded at the gala dinner of the annual Royal Economic Society Conference, set to take place in July 2026 at Newcastle University.">announced that the 2025 Royal Economic Society Prize will be awarded to Grischa Perino, Robert Ritz, and Arthur van Benthem for their article titled ‘Overlapping Climate Policies’, published in the October 2025 issue of The Economic Journal. The award recognizes the authors' framework, which examines how unilateral jurisdictional policies, such as coal phase-outs or renewable energy supports, interact with broader multi-jurisdictional systems like the EU Emissions Trading System (ETS). The committee emphasized the analysis's relevance to current climate policy debates, highlighting its potential as a tool for policymakers to measure climate effectiveness. In their joint statement, the winners expressed their hopes that their research will serve as an essential resource as global policymakers develop effective climate portfolios. They stated, "Our paper offers a unified framework to study the interaction between several climate policies targeted on the same emitters. Seemingly minor details can make all the difference for whether the policy mix is effective at cutting emissions." They further expressed their gratitude for receiving the RES Prize. Grischa Perino is professor for environmental economics at the University of Hamburg and the managing director of the Earth & Society Research Hub (ESRAH). His research interests include several areas in environmental, climate and applied micro-economics. He is an expert on carbon market design - in particular the Market Stability Reserve in the EU Emissions Trading Scheme (ETS) - and has advised the European Commission, the German Ministry for Economic Affairs, and the German Environment Agency. Find out more on his faculty webpage or his personal site. Robert Ritz is a fellow and lecturer at Peterhouse College, University of Cambridge. He specialises in the interface between climate policy, industrial organisation and energy economics. He has worked as an advisor to the UK's energy regulator (OFCOM) and the UK's antitrust body, the Competition & Markets Authority. He was previously a research fellow at the University of Oxford, where he also received his PhD. You can find out more on his faculty profile or on his personal website. Arthur van Benthem is a Professor of Business Economics and Public Policy at Wharton, University of Pennsylvania, where he is co-director of the Wharton Climate Center. His research specialises in environmental and energy economics. He studied at the University of Amsterdam and at Stanford, where he gained his PhD. You can find out more about Dr. van Benthem on his faculty page or his personal site. The Prize will be awarded at the gala dinner of the annual Royal Economic Society Conference, set to take place in July 2026 at Newcastle University.
The Royal Economic Society has awarded the 2025 Prize to Grischa Perino, Robert Ritz, and Arthur van Benthem for their significant contribution in understanding climate policy interactions.
Agricultural and Environmental Economics (JEL Q)
Dr. Vera Songwe Appointed to Pontifical Academy of Social Sciences by Pope Leo XIV
The Holy See announced today that Pope Leo XIV has appointed Dr. Vera Songwe as an ordinary member of the Pontifical Academy of Social Sciences. Dr. Songwe is recognized for her extensive experience and leadership in global economic and social issues. Born on August 31, 1968, in Nairobi, Kenya, Dr. Songwe is a citizen of Cameroon. She holds a degree in economics and political sciences from the University of Michigan and a doctorate in mathematical economics from the Université Catholique de Louvain in Belgium. Her career spanned roles at the World Bank from 1998 until 2015, during which she served as National Director for several West African nations, including Senegal and Mauritania. From 2015 to 2017, Dr. Songwe was the Director for West and Central Africa at the International Finance Corporation. She later held the position of Undersecretary General of the United Nations and Executive Secretary of the Economic Commission for Africa until 2022. In addition to her new role, she is also the founder and president of the Liquidity and Sustainability Facility and a non-resident senior fellow at the Africa Growth Initiative of the Brookings Institution in Washington, D.C. This appointment not only highlights Dr. Songwe's vast expertise but also reflects the Vatican's intent to address critical social issues, including climate finance and sustainable development. The Pontifical Academy of Social Sciences is an institution of the Holy See that brings together experts from various disciplines with the aim of studying current economic, social, and political issues. In recent years, the academy has recruited individuals with a professional background from international organizations and research institutes, signifying a new impetus at the Vatican to increase its international role in fields such as development economics and climate issues. Image Credits: FID - UK Department for International Development - licensed as CC BY 2.0 via Flickr Photo Title: Dr Vera Songwe, Executive Secretary, United Nations Economic Commission for Africa, speaking at the UK-Africa Investment Summit in London, 20 January 2020
Dr. Vera Songwe, an African development expert, has been appointed by the Vatican to the Pontifical Academy of Social Sciences. Dr. Songwe boasts an impressive career, including leadership roles in international organizations and significant contributions in climate finance.
Dr. David Ortega Receives 2025 Borlaug CAST Communication Award
The Council for Agricultural Science and Technology (CAST) presented the prestigious 2025 Borlaug CAST Communication Award (BCCA) to Dr. David L. Ortega during a ceremony on March 3, 2026, at Madison Hall in the Library of Congress, Washington, D.C. The event also marked the announcement of CAST’s Science Communication Scholarship recipient, Suraksha Baral, a Ph.D. student at The Ohio State University. Dr. Ortega, who serves as a Professor and the Noel W. Stuckman Chair in Food Economics and Policy at Michigan State University, was recognized for his exceptional record in translating complex food and agricultural economics research into accessible information for a variety of audiences, including policymakers and the general public. Over his career, Dr. Ortega has published over 80 peer-reviewed articles, gained nearly 4,000 citations, and provided testimony before U.S. legislative committees. His media presence includes appearances on major outlets like The New York Times and NPR. CAST CEO Dr. Chris Boomsma praised Ortega's work in helping inform public and political discourse on food systems. In his acceptance speech, Dr. Ortega emphasized that understanding food economics is an ongoing responsibility that extends beyond personal achievement. Meanwhile, Suraksha Baral received a $1,000 scholarship for her initiatives in communicating critical environmental and agricultural data to non-academic audiences. Baral leads the Can Fairy program in Columbus, Ohio, aimed at enhancing community recycling efforts through engaging educational materials. About CAST The Council for Agricultural Science and Technology (CAST) is an American nonprofit organization that assembles, interprets, and communicates credible, balanced, science-based information to policymakers, the media, the private sector, and the public. Through its network of scientific societies, companies, and individual members, CAST advances the understanding of food, agriculture, and natural resources. For more information, visit cast-science.org. Image Credit: With kind permission of CAST (Council for Agricultural Science and Technology)
At a ceremony held on March 3, 2026, at the Library of Congress, the Council for Agricultural Science and Technology (CAST) awarded Dr. David L. Ortega the 2025 Borlaug CAST Communication Award for his significant contributions to agricultural science communication. The event also recognized Suraksha Baral as the recipient of CAST’s Science Communication Scholarship.