Visit us at Network2020.org
The International Financial Institutions (IFIs), including prominent entities like the World Bank and the International Monetary Fund (IMF), have long been pillars of global economic stability and development. However, critics argue that these institutions were mainly designed after World War II, with structures that may not effectively address contemporary challenges such as climate change and social inequalities. Moreover, the emergence of a new era marked by the rivalry between the United States and China has further complicated matters. China’s growing influence as a creditor, alongside its unique lending practices that diverge from traditional IFIs, presents novel challenges in addressing sovereign debt crises. As organizations like the World Bank and IMF grapple with these complexities, what reforms are needed to align IFIs with current global realities? How can these institutions navigate the geopolitical tensions between the U.S. and China while fulfilling their mandates? What role should the U.S. play in shaping the future of these institutions amidst evolving global dynamics? What are the perspectives of developing countries?
Join us for a conversation between Dr. Daouda Sembene, Distinguished Non-Resident Fellow at the Center for Global Development and Former Executive Director of the International Monetary Fund; and Dr. Benn Steil, Senior Fellow and Director of International Economics at the Council on Foreign Relations. The conversation is moderated by James Upton, Network 20/20’s Board Member and former Chief Strategic Officer on the Emerging Markets Equity team at Morgan Stanley.
