28. Money, politics and power – reforming the international financial architecture

Make Change Happen

There is a critical need to reform the international financial architecture (IFA) – the framework of institutions, policies, rules and practices that govern the global financial system. In the episode, IIED’s Laura Kelly and Mohsen Gul set the scene by explaining why the IFA needs to be fit for purpose and work for everyone, including the least developed countries (LDCs), and why discussions around IFA reforms must include the voices of lower-income countries, LDCs and Small Island Developing States (SIDS). IIED’s chief economist Paul Steele then outlines three priorities for reform of the IFA. We also hear from IIED’s Ritu Bharadwaj who discusses the Global SIDS Debt Sustainability Support Service, co-designed by IIED to alleviate crippling levels of debt and build economic resilience, and IIED partner Isatou Camara, who calls for faster and more accessible funding to reach the most vulnerable countries.