2024 Global Parliamentary Forum
21-22 October 2024
Overcoming Challenges to Multilateralism
Washington D.C.
Context
Since their creation in 1944, the International Monetary Fund (IMF) and the World Bank Group (WBG)
have evolved in their composition, mission, and priorities to face the changing nature of
macroeconomic and development challenges. Increasing membership, the interconnectedness of
globalization, and the emergence of private lenders have obligated these international financial
institutions to become more adaptable and flexible as they continue to help counties reduce poverty,
raise living standards and stabilize the global economy.
Both the IMF and WBG have created various instruments to deal with
today’s
global problems and
while much progress has been made to better
people’s
living conditions over the past eight decades,
challenges remain: market volatility, connected crises, and rising geopolitical tensions are still part of
our daily lives. Today, we need coordinated approaches to tackle debt, climate change, inequality,
gender, the digital divide, AI, and governance issues. This calls not only for collaboration with external
actors but also between both institutions.
In this context, the IMF and WBG launched a consultation tasked with developing a long-term view on
the future of the world economy, international cooperation, and the roles of the Bank and the Fund.
This edition of the Global Parliamentary Forum, to be held on 21 and 22 October 2024 in Washington
DC, will be an occasion for legislators to lead a discussion with representatives of both the IMF and
WBG, to share their views on how multilateralism should evolve and on how the IMF and the WBG can
best support stability and progress on a livable planet.