CFOs in the Eye of the Geopolitical and Economic Storm

Already accustomed to managing traditional financial risks, CFOs have, in recent years, had to contend with unprecedented crises and threats. Against a backdrop of mounting geopolitical instability, their role is becoming ever more pivotal: they must now also consider complex variables such as persistent inflation, trade tensions, cyber-risks and regulatory upheaval. This evolution requires agility, continuously updated forecasts and the ability to perform stress tests to anticipate economic shocks.

The latest economic, commercial and fiscal announcements are intensifying macroeconomic instability, compounded by heightened volatility in equity, currency and commodity markets. In this environment, executive committees and CFOs are forced to act with agility—stepping up forecasting and stress-testing to prepare for high interest rates, rising debt costs and critical liquidity pressures.

These recent protectionist developments, particularly in the United States, are forcing companies to review their supply chains, consider relocations and rethink their investment decisions. CFOs must now factor international tensions into their country risk management while preparing for tougher financing conditions and increased sectoral restrictions, particularly in the defence, technology and energy sectors.

“As CFOs are also citizens and companies are actors in society, current events will also present an opportunity to reflect on our independence and our allies. It is urgent that we pause for a moment, and define our focusing direction with a cool head and away from the fuss surrounding us,” adds Stéphane Nénez.

“Crisis is an opportunity for reflection on what truly matters.” (Albert Camus)

Read the full version of this article by Stéphane Nénez, Partner at Eight Advisory published in Les Echos on April, 28 2025 (available in French).