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Vol 64 No 10

Published 11th May 2023

No brave new Bretton Woods in sight

Negotiations on reforming the international finance system are slowed by geopolitics and the west’s economic wobbles

Grand talk about remaking the international system and a second edition of Bretton Woods meeting, which founded the IMF and the World Bank in 1944, has yielded little but promises of more talk this year. A new plan to reshape the World Bank, making it more responsive to the need for climate finance and help for highly indebted poor countries was commissioned by the United States Treasury Department in December.

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