Since the late 1990s, the creation of a new international financial architecture has been actively debated in international public policy circles. Driving these debates has been a concern that the postwar international financial architecture has become seriously outdated. Some important initiatives have resulted already from this debate, but the project of building a new international financial architecture remains far from complete. This workshop aims both to take stock of recent reform initiatives and explore possibilities for future reform, with a particular focus on the changing position of the IMF. The Bretton Woods architects placed the IMF at the center of international financial governance. Its central position no longer appears so secure.
Will the IMF continue to play a key role in global financial governance?
What challenges is it facing in maintaining this position?
What internal reforms within the IMF might be necessary for it to adapt effectively to the new global financial order?
What alternative governance mechanisms are emerging to govern the global financial realm and why?
Are these more appropriate than the IMF?
These are the questions that we hope this workshop can address.