Cooperation for Stability: Strengthening the Global Financial Safety Net

T20 Argentina associated event.

The workshop Cooperation for Stability: Strengthening the Global Financial Safety Net is organized by the Institute of World Economics and Politics (IWEP), Chinese Academy of Social Sciences in conjunction with Boston University’s Global Development Policy Center (GDP Center) and the United Nations Conference on Trade and Development (UNCTAD) to feed into the T20 Task Force on “An International Financial Architecture for Stability and Development”

The “Global Financial Safety Net” (GFSN) is a loose constellation of efforts by Central Banks, the International Monetary Fund (IMF), and a number of regional financial arrangements (RFAs) all with the goal to prevent and mitigate financial crises. Over the next two years, the IMF is scheduled to make significant reforms to its quota and voting structures, and to its policies on conditionality. Moreover, many of the RFAs have begun to discuss the extent to which they should coordinate with each other and with the IMF—and the IMF itself has proposed a ‘Policy Coordination Instrument’ (PCI).

This workshop will bring together experts from think tanks engaged in the T20 process as well as experts from the United Nations and government representatives.


9:30 am:  Welcome by Zou Zhibo, Deputy Director, IWEP

9:400 am: Reforming the International Monetary and Financial System
Jose Antonio Ocampo. Co-Chair, Central Bank of Colombia, Chair, Committee on Development Policy, United Nations:  ‘Reforming the International Monetary (Non-System)
Huang Haizhou, Managing Director and Management Committee member, China International Capital Corporation (CICC)


10:40 am: Reforming the International Monetary Fund
As the IMF prepares for its review of conditionality in 2019, what guiding principles might the G20 put forth for existing and potentially new instrumentation at the IMF and the levels of conditionality associated with those instruments? 

– Wang Xin, Director, Currency, Gold and Silver Bureau of the People’s Bank of China
– Marilou Uy, Secretariat, G-24
– Xiong Aizong, Research Fellow, IWEP
– Alexander Kentikelenis, University of Oxford
– Zhang Liqing, Professor, Central University of Finance and Economics
Chair: Gao Haihong, Director of Research Center for International Finance, IWEP

12:40 pm: Lunch

2:00 pm:  Regional Financial Arrangements
To what extent are the IMF’s recent proposal for a policy coordination instrument and staff position note on collaboration between the RFAs and the IMF consistent with the G20’s guiding principles? 

-Lu Feng, Professor, National School of Development (NSD), Peking University; Member of AMRO Advisory Panel
-Gong Cheng, Senior Economist, European Stability Mechanism
-Carlos Giraldo, Director of Economic Studies, Latin American Reserve Fund
-Yang Panpan, Associate fellow, Deputy Director of Department of Global Macroeconomy, IWEP
Chair: Kevin Gallagher, Director of Global Development Policy Center, Boston University

4:00pm: Coffee Break

4:15 pm: Summary and Closing Remarks
-Zhang Yuyan, Director, IWEP
-Kevin Gallagher, Director of Global Development Policy Center, Boston University
-Diana Barrowclough, Senior Economist, UNCTAD