IFIs at a Pivotal Time

BWC’S newly formed working group had a crucial discussion on the full scope of problems that are facing global policymakers today, such as rising inflation, the cost-of-living crisis, and climate change to name just a few from a long list. "What’s stopping us from making progress in dealing with these issues?” asked Masood Ahmed. A lack of political consensus on shared priorities and the staggering cost of investment needed now with benefits only being reaped later argued the panelists. Multilateral institutions are best equipped to deal with these issues but they are in need of urgent reform both in terms of their mandates and their financial adequacy. Reform efforts are underway and as they continue to progress, the IFIs must recognize that the priorities and financing needs of their member states vary greatly.