Reforms to the global financial architecture Contents BRIEFING December 2023

For some, the UN does not have the the reform of the international financial architecture a mandate to decide on reforms to the global financial ar- priority topic of the UN Summit of the Future (SotF). [...] UN Member States to put the reform of the inter- national financial architecture on the agenda of the Over the years, the crises and the resulting calls for Summit of the Future (SotF), which is planned for reforms have led to numerous initiatives and chang- September 2024. [...] This recommendation In the current reform process, the area that has is also contained in the report of the High-Level the highest priority for the countries of the glob- Advisory Board on Effective Multilateralism (p. [...] Financ ing for Development at the UN General As- sembly in September 2023: This prompted the UN Secretary-General to call for the reorganization of the governance structures (T)he reform of the current governance system crafted al- of the IFIs as measure one in his policy brief on the most a century ago does not reflect the reality of today’s reform of the international financial architecture. [...] In this Representative of Namibia) as co-facilitators for the complex situation, the Summit of the Future could preparations of the Summit and the Pact for the Fu- help to bring the reform debates together.