Bretton Woods Revisited: A Monetary and Financial Order for the 21st Century
The Centre for Social and Economic Progress along with an international consortium of think tanks hosted a webinar discussion on Tuesday, June 25, 2024, from 18:00 – 19:30 IST / 14:30 – 16:00 CEST / 8:30 – 10:00 EDT / 9:30 – 11:00 Rio to discuss how to restructure the global economic governance to meet the challenges of the 21st century. The event featured a statement from the co-hosting institutions outlining key reform priorities for the international financial architecture, followed by a panel discussion with influential economists and policymakers from around the world.
July 2024 marks the 80th anniversary of the Bretton Woods Agreement, a pivotal moment in history that established the global financial and monetary order post-World War II, leading to the creation of institutions like the IMF and World Bank. While some elements have changed over the decades, the core structure remains largely intact. However, in the face of unprecedented ecological challenges, and shifting economic power dynamics, the current framework is proving inadequate. Among its limitations are the lack of fair representation for developing economies, inadequate attention to climate risks, and the disproportionate influence of the US dollar.
This event is co-hosted by the BRICS Policy Center from Brazil, the Boston University Global Development Policy Center from the US, the Institute for Economic Justice from South Africa, the Centre for Sustainable Finance at SOAS University of London, and the Heinrich Böll Foundation.
By bringing together such a wide range of institutions and speakers this event aims to foster an international dialogue on how the system can be revitalised and made more inclusive and responsive to current and future needs.
Introduction and Keynote:
- Ulrich Volz, Professor of Economics and Director of the Centre for Sustainable Finance, SOAS University of London
Panel Discussion:
- Rakesh Mohan, President Emeritus and Distinguished Fellow, Centre for Social and Economic Progress. He was former Executive Director on the Board of the International Monetary Fund and former Deputy Governor RBI.
- Annalisa Prizzon, Principal Research Fellow in the Development and Public Finance Programme at ODI. She was former economist and policy analyst at OECD and World Bank.
- Ayanda Dlodlo, World Bank Group Executive Director for Angola, Nigeria, South Africa. He was former Minister of Home Affairs of South Africa.
- Tatiana Berringer, Coordinator of the Social G20 in the Finance Track
- Shari Spiegel, Director of the Financing for Development Office of the Department of Economic and Social Affairs at the UN (UN-DESA)
Moderator:
Kamal Ramburuth, Institute for Economic Justice, South Africa
Contact: Sarah Ribbert, Senior Programme Officer, Heinrich-Böll-Stiftung ribbert@boell.de
The Centre for Social and Economic Progress (CSEP) is an independent, public policy think tank with a mandate to conduct research and analysis on critical issues facing India and the world and help shape policies that advance sustainable growth and development.