Bretton Woods Revisited: A Monetary and Financial Order for the 21st Century

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.

Against this backdrop, an international consortium of think tanks is hosting a webinar discussion on Tuesday, June 25, 2024, from 8:30 - 10:00 EDT | 9:30 - 11:00 BRT | 14:30 - 16:00 CEST | 18:00 - 19:30 IST to discuss how to restructure the global economic governance to meet the challenges of the 21st century. The event will feature 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.

This event is co-hosted by the Centre for Social and Economic Progress from India, 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 revitalized and made more inclusive and responsive to current and future needs.

Speakers:

- Ayanda Dlodlo, World Bank Group Executive Director, Angola, Nigeria, South Africa; former Minister of Home Affairs, South Africa

- Rakesh Mohan, President Emeritus and Distinguished Fellow, Centre for Social and Economic Progress; former IMF Executive Director India; Former Deputy Governor, Reserve Bank of India

- Annalisa Prizzon, Principal Research Fellow, Development and Public Finance Programme, ODI; former Economist and Policy Analyst, Organisation for Economic Co-operation and Development and World Bank

- Tatiana Rosito, Secretary for International Affairs at Brazil’s Ministry of Finance

- Shari Spiegel, Director of the Financing for Development Office of the Department of Economic and Social Affairs at the UN (UN-DESA)

- Ulrich Volz, Professor of Economics, Director, Centre for Sustainable Finance, SOAS University of London

- Kamal Ramburuth (Moderator), Researcher, Institute for Economic Justice, South Africa