Reforms to the International Financial Architecture

The present policy brief elaborates on the ideas first proposed in Our Common Agenda, taking into account subsequent guidance from Member States and over one year of intergovernmental and multi-stakeholder consultations, and rooted in the purposes and the principles of the Charter of the United Nations, the Universal Declaration of Human Rights and other international instruments. The international financial architecture should be structured to proactively support the implementation of the Sustainable Development Goals and the realization of human rights. The only way to facilitate such a structure is through ambitious reform, starting with more inclusive, representative and, ultimately, more effective global economic governance. The brief sets out action-oriented recommendations for reforming the international financial and tax architecture in six areas - Global economic governance; Debt relief and the cost of sovereign borrowing; International public finance; The global financial safety net; Policy and regulatory frameworks; Global tax architecture for equitable and inclusive sustainable development. This is the sixth of the Summit of the Future Policy Briefs.