global financial centres

Global leaders are gathering on the sidelines of the UN General Assembly to discuss the future of development finance, with a focus on how multilateral lenders can fund sustainable growth. CAF, the Development Bank of Latin America, is highlighting its role in shaping financing models for emerging economies. Discussions centre on reforming global financial systems so developing countries can access affordable capital for infrastructure and climate priorities.

The Financial Times reports that AI hyperscalers — the largest cloud and AI infrastructure providers such as Microsoft, Amazon, Google and Meta — are transforming debt markets. Their enormous spending on data centres and computing power is driving new borrowing at historic scale, changing how credit is priced and who dominates corporate bond issuance.

Financial centres are being urged to strengthen trust and transparency as uncertainty in the global economy increases. The call highlights that stability in international finance depends on confidence among investors, regulators and institutions, and that centres which fail to build credibility risk losing business as geopolitical and economic risks mount worldwide.