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Conversation on International Financial Architecture Innovation and the Summit of the Future

Webinar
🕰 Monday, 15 April, 12:30-1:45 pm EDT 📍Online Webinar Convened by the Stimson Center (in connection with its 35th anniversary commemoration) and timed to coincide with the World Bank-International Monetary Fund Spring Meetings (15-21 April 2024), this webinar featured: H.E. Ambassador Antje Leendertse, Permanent Representative of Germany to the UN and…

15 April 2024@ 12:30

13:45
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Location
Online
Host/Contributor
Stimson Center

🕰 Monday, 15 April, 12:30-1:45 pm EDT

📍Online Webinar

Convened by the Stimson Center (in connection with its 35th anniversary commemoration) and timed to coincide with the World Bank-International Monetary Fund Spring Meetings (15-21 April 2024), this webinar featured:

  • H.E. Ambassador Antje Leendertse, Permanent Representative of Germany to the UN and Co-Facilitator of the Summit of the Future’s outcome document – the Pact for the Future
  • H.E. Neville Gertze, Permanent Representative of Namibia to the UN and Co-Facilitator of the Summit of the Future’s oucome document – the Pact for the Future
  • H.E. Alexia Latortue, Assistant Secretary for International Trade and Development, U.S. Department of the Treasury.
  • Amb. Chibamba Kanyama, Ambassador of Zambia to the United States

Reflecting upon the present Pact for the Future negotiations, as well as related discussions in the Executive Boards of the World Bank and IMF, the seventy-five-minute moderated dialogue explored ways in which discussions on international financial architecture reform within New York and Washington, D.C. could be made more complementary, particularly in light of the generational opportunity provided by the 22-23 September 2024 Summit of the Future (where, for instance, Chapters 1 and 5 of the summit’s chief outcome document, the “Pact for the Future”, speak to how a strengthened and innovated World Bank and IMF can help countries to better deliver on the 2030 Agenda for Sustainable Development).

Some questions addressed in the conversation included:

  1. How can the Summit of the Future, alongside reform efforts within the World Bank and IMF, address the global financial and economic governance gaps identified in the September 2023 SDG Summit Political Declaration?
  2. How can international financial architecture innovation help in mobilizing the $500 billion per annum “SDG Stimulus” called for by UN Secretary-General António Guterres and the $300 billion per annum for climate adaptation called for by the UN Intergovernmental Panel on Climate Change, including through cooperation with the G20? and
  3. How can the different multilateral cultures and orientations between New York and Washington, D.C.—with UN diplomats reporting primarily to their Ministries of Foreign Affairs and Bank-Fund Executive Board members reporting primarily to their Ministries of Finance—be bridged to forge a more coherent, networked, and effective system of global financial and economic governance?

The event also began with brief updates on the upcoming (9-10 May) 2024 UN Civil Society Conference on the Summit of the Future, planned for 9-10 May in Nairobi, and the recently released outcome report from the Africa SOTF Dialogue, held from 4-6 March 2024 in Abuja.

In case you missed us, watch the recording below

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