What We're Watching
Local farmers in Africa brace for new EU deforestation law
Ivorian farm workers slits cocoa pods to extract the beans in a cocoa plantation of the N'Doucy cooperative near the village of Sokorogbo.
Hans Lucas
Under EUDR, coffee growers hoping to sell to the world’s largest economy will have to digitally map their supply chains down to the plot where the raw materials were grown, a task that could involve tracing millions of small farms in remote regions.
In Ethiopia, where some 5 million farming families rely on coffee beans, orders have been drying up in recent months. Ivory Coast – the world's largest exporter of cocoa – ships around 70% of its annual output to the EU, but half of its crop is sold by local intermediaries and thus difficult to trace.
The law could increase small-scale farmer poverty and raise prices for EU consumers, while also undermining the EUDR's impact on forest conservation, as countries like Ivory Coast are considering declassifying protected forests so that they comply with the EU regulations.
Ian Bremmer sits down with Ivan Krastev, Chairman of the Centre for Liberal Strategies and political scientist, to discuss Hungary's consequential upcoming election and what it means for the far right globally.
A new US regulatory framework sets clear rules for stablecoins, defining issuer responsibilities and laying the groundwork for consistent federal and state oversight. With guardrails in place, stablecoins are shifting from crypto experiment to payment infrastructure. Explore the stablecoin framework with Bank of America Institute.
See: “Raphael: Sublime Poetry at the Met.” The first Raphael retrospective ever mounted in the US is running through June 28 at the Met Museum.
Forty-eight countries have officially qualified for the World Cup, after Iraq booked the final spot with its win against Bolivia on Tuesday.