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June 20, 2023

During the April 2023 Spring Meetings of the International Monetary Fund and the World Bank, IDDRI, the European Climate Foundation and the United Nations Foundation co-organised a closed-door dialogue gathering a dozen of country representatives. The goal of this meeting was to examine the limits and imperfections of the international financial architecture and to identify possible avenues to fix these dysfunctions in 2023 and in the coming years, despite the lack of trust in the system.


The Paris June Summit for a New Global Financial Pact appears timely in a year paved with moments for corrective change, and its responsibility is to provide an uncensored view of the different worlds and realities coexisting, shedding a light on the structural barriers to change, even if this particular moment could not fix it all. Since the task at hand is massive, time limited and that the Summit does not have a real institutional mandate, one of its value added could be in clearly laying out directions to effectively generate system change and establishing detailed processes coupled with roadmaps to pursue this long-haul effort over the next couple of years, including the upcoming G20 and COP28.

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