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 Zhang Yuyan, Director, IWEP

9:400 am: Address
Jose Antonio Ocampo. Co-Chair, Central Bank of Colombia, Chair, Committee on Development Policy, United Nations:  ‘Reforming the International Monetary (Non-System)

Discussant:  China TBD


10:40 am: Reforming the International Monetary Fund
This session discuss the key issues of IMS, including quota and voice reform, conditionality review, and new instruments, etc.

-Xiang Huaizhu, PBoC TBD
-Zhang Liqing, Professor, Central University of Finance and Economics
-Xiong Aizong, Research Fellow, IWEP
-Paolo Nogueria Batista, Getulio Vargas Foundation, Brazil
-Marilou Uy, G-24 Secretariat
-Jose Antonio Ocampo, Central Bank of Colombia

12:40 pm: Lunch

2:00 pm:  Regional Financial Arrangements
This session focuses on the existing regional financial arrangements, including FlAR and liquidity-based RFAs, Chang Mai and other swap-based RFAs and Evaluating the PCI.

-Wei Benhua, Former Director, AMRO TBD
-Zhang Ming, Senior Fellow, IWEP
-Liu Dongmin, Associate Fellow, IWEP
-Gong Cheng, Director of Research, European Stability Mechanism
-Jose Diario Uribe, Director, Latin American Reserve Fund
-Subir Gokarn, Executive Director to the IMF, India

4:00pm: Coffee Break

4:15 pm: Summary and Next Steps