High-Level Seminar on Perspectives of the Global South on MDB Reform
The Policy Center for the New South (PCNS), the Center for Global Development (CGD), and the Reinventing Bretton Woods Committee (RBWC) are jointly organizing the High-Level Seminar on Perspectives of the Global South on MDB Reform on September 11-12, 2023 in Rabat, Morocco.
The shared challenges facing humanity have only grown more pressing and existential. From pandemics to climate change to financial distress and the looming public debt breakdown, the world is entering an era of polycrises, characterized by a multiplicity of shocks, to which countries of the Global South are most exposed. At the same time, these countries face tremendous development challenges.
There is increasing recognition that the MDBs are the most promising instrument for mobilizing needed additional financial flows for global challenges in addition to fighting poverty, but they urgently need to be revamped if they are to meet the moment. Significant reform discussions are already underway at the World Bank and key regional MDBs. But it is crucial that this reform process includes the voices and perspectives of a broad range of experts, policymakers, and other stakeholders, including from across the Global South. The perspectives of recipient countries who borrow from the MDBs should be at the heart of these debates.
PCNS and CGD are hosting this convening of academics, think tank experts, and policymakers, especially from the Global South – just after the G20 Leaders’ Summit and in advance of the IMF-WB Meeting in October – to amplify the voices and input of a diverse perspectives on the MDB reform agenda. The conclusions of this gathering will feed into the Annual Meetings to be held a month later in Marrakech.
The event will cover broad principles in MDB reform as well as more specific issues, including ensuring adequate concessional financing for low-income countries, finding the right balance between national and global priorities, optimizing institutions to scale up finance for development, mobilizing private sector resources, determining how IFIs can best support middle-income countries, finding the best opportunities and mechanisms for regional and global cooperation, and more.
For more information, please contact us at: firstname.lastname@example.org