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Thematic Brief on Technology
Thematic Brief on Technology
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Thematic Briefing: International Financial Architecture
The term “international financial architecture” (IFA) refers to a comprehensive framework comprising institutions, rules and agreements, policies, and practices that govern the global financial and monetary system.
Fostering greater international cooperation may appear an arduous task in the contemporary era, where geopolitical tensions and the surge of nationalism in many countries are further weakening the spirit of global solidarity. Nonetheless, clinging to an international financial architecture that engenders instability and does not provide long-term financing for inclusive and sustainable development is no longer a viable option.
The international community can and should proceed ahead with agreed elements, without being impeded by the absence of a comprehensive global agreement on the entire IFA reform agenda. Can the FfD4 momentum continue and translate into transformative, ambitious, and actionable reforms of the international financial architecture? The world will be keenly watching what unfolds beyond.
