The International Finance Forum (IFF) Secretariat convened its Global Membership Meeting yesterday in a virtual event for Members of the IFF Board and Advisory and Academic Committees. Distinguished members from around the world attended the closed-door conference, airing their views on a wide array of themes, ranging from using green finance to reduce carbon emissions, to promoting South-South economic cooperation in an effort to counter geopolitical fragmentation, recalibrating the Bretton Woods Institutions to better adapt them to the new realities, and related topics.

The meeting commenced with impactful opening remarks from LIN Jianhai, IFF Executive Vice President and former Secretary of the International Monetary Fund (IMF). He moderated the first session, which featured a compelling presentation by Dr. Ayhan Kose, Deputy Chief Economist at the World Bank, titled Updates on the World Economic Prospects. Following the presentation, a lively discussion ensued, where IFF Vice President Gerry Rice emphasized, “There’s no Ozempic for economic growth; no silver bullet.” He called for enhanced international cooperation to navigate the current economic headwinds.

The second session, led by ZHU Xian, IFF Executive Vice President and Secretary General, Former Vice President of World Bank, focused on the IFF's achievements in 2024 and outlined ambitious priorities for 2025. LIN highlighted seven significant areas of progress, including strengthened academic activities, a record-breaking 2024 Annual Meeting, enhanced research capabilities through collaboration with the UIBE-IFF Institute, the formation of the IFF Artificial Intelligence Committee, advancements in regional cooperation, promotion of sustainable development through initiatives like the Carbon Pricing Working Group and the Green Finance Working Group's Huzhou Pilot Project Seminars, and expanded communication efforts, including a media matrix and revitalized online presence.

Looking ahead, the IFF envisions monthly academic workshops on pressing global issues, a Spring Meeting in May or June, continued engagement at IMF/World Bank Annual Meetings, the release of the Global Finance and Development Report 2025, and the conferment of the IFF Global Green Finance Award and Belt and Road International Cooperation Award.

Notable contributions during the meeting included insights from José Viñals, IFF Vice-Chair, Group Chairman of Standard Chartered Bank, who stressed the need for adaptation strategies as the planet surpasses the 1.5-degree threshold under the Paris Agreement. YI Xiaozhun, IFF Vice-Chair, Former Deputy Director-General of the World Trade Organization, expressed concern over the fragmentation of the global economy and emphasized the desire of many nations to pursue free trade despite geopolitical tensions. John Lipsky, Co-chair of the IFF Advisory Committee, Former First Deputy Managing Director of IMF, advocated for digitalization in trade to facilitate real-time settlements and combat protectionism.

As the meeting concluded, LIN encouraged members to share further suggestions for the IFF's initiatives in 2025, underscoring the collaborative spirit essential for navigating the challenges ahead.