OBELA Analysis

In an increasingly digitalised world, Central Bank Digital Currencies (CBDCs) are emerging as one of the most significant developments in the evolution of the international monetary system, which will define the future of money and foreign exchange markets. Globally, countries have developed their own CBDCs or are in the process of doing so.

The beginning of 2026 was marked by uncertainty regarding the impact of the United States' unilateral tariffs on the so-called "rebel states." This approach disregarded all current international trade agreements. Later, on 20 February 2026, the Supreme Court rejected the President’s actions, highlighting the conflict between national policy and international obligations.

On 7 January 2026, President Donald Trump announced the withdrawal of the United States from 35 organisations not belonging to the UN system and 31 United Nations institutions (see Annexe 1). The justification is that these organisations are contrary to US interests. This statement partially aligns with President Trump's narrative on some issues, such as climate change, where his scepticism towards climate science makes the abandonment of these forums consistent. However, there is a strong inconsistency when looking at institutions linked to issues such as security, counter-terrorism, international justice and cyber security.