Draft:International Finance Forum

Source: Wikipedia, the free encyclopedia.
  • Comment: This draft largely just documents the occurrence of their meetings, it doesn't summarize significant coverage of this organization that shows how it meets WP:ORG. 331dot (talk) 06:37, 28 August 2024 (UTC)

The International Finance Forum (IFF) is a nonprofit, unofficial, independent international organization founded jointly in Beijing in October 2003 by the leaders of China, the United States, the European Union, and other G20 countries and emerging economies, as well as related international organizations such as the United Nations (UN), the World Bank, and the International Monetary Fund (IMF). [1] The IFF serves as a platform for dialogue and cooperation in the field of global finance, often referred to as the "Finance 20" or "F20."

History and Mission

The IFF was created to facilitate global financial strategic dialogue, exchange, and cooperation. It aims to promote financial services worldwide and support comprehensive, sustainable development. According to António Guterres, Secretary-General of the United Nations, a core part of the IFF’s mission is to “transform the international financial architecture to serve the needs of today so that it contributes to reducing inequalities and restoring trust between developed countries and emerging economies.[2]

Activities and Initiatives

Since its inception, the IFF has engaged with over 100 countries and regions, maintaining connections with numerous international and regional organizations. It hosts annual meetings that attract thousands of participants, including global financial leaders and industry experts. These gatherings focus on promoting strategic dialogue and innovative solutions in finance. Kevin Rudd, former Prime Minister of Australia and Co-Chair of the IFF, notes that “As a high-end platform, the IFF has close ties with financial, economic, and political leaders as well as experts and scholars, and plays a key role in direct financial diplomacy.[3]

On June 1, 2017, the IFF signed a Strategic Partnership Agreement with the Guangzhou Nansha Development Zone Committee, marking the official launch of the Nansha International Financial Island and the official establishment of the IFF’s permanent location in Guangzhou's Nansha District.[4]

The IFF has launched several initiatives, including the Global Green Finance Award, which recognizes achievements in green finance, and the Belt and Road International Cooperation Award, aimed at fostering international collaboration aligned with the Belt and Road Initiative.

Organizational Structure

The IFF's leadership includes prominent figures from global finance and politics. Notable past leaders have included Han Seung-soo, Jenny Shipley, and Paul Volcker. The current leadership continues to guide the organization's strategic direction and initiatives.

Global Influence

The IFF is recognized for its role in fostering international financial cooperation and dialogue. It has been acknowledged by various global leaders and institutions for its contributions to financial policy and development. The organization's efforts align with global goals for sustainable economic growth and improved financial systems.

Notable Events

In October 2003, the IFF held its 1st annual meeting in Beijing with the theme ‘Financial Globalization and China's Financial Reform’ and officially released a global initiative.

In November 2004, the IFF held its 2nd annual meeting in Beijing, with the theme ‘Financial Development and Financial Governance Structure’ and issued the ‘IFF Declaration’.

In 2005, the IFF participated in the G20 and held the ‘Rebuilding the Bretton Woods System’ meeting.

In September 2006, the IFF held its 3rd annual meeting in Beijing with the theme ‘New Patterns of China's Financial Opening’ and issued the report ‘New Patterns of China's Financial Opening’.

In November 2007, the IFF held its 4th annual global meeting in Beijing with the theme ‘Financial Globalization: Opportunities and Challenges’. The ‘IFF Global Strategic Library’ was also officially established and published at this time.

In November 2008, the IFF held its 5th annual meeting in Beijing with the theme ‘Global Financial Turbulence: The Impact on the World and China’ and made preparations to establish the academic journal ‘IFF’.

In November 2009, the IFF held its 6th annual meeting in Beijing with the theme ‘Transformation and Revitalization after the Global Financial Crisis’, signed a strategic cooperation memorandum with the United Nations Development Program (UNDP) and established a comprehensive strategic partnership, and jointly established the IFF International Advisory Committee, with 25 global financial leaders as members.

In November 2010, the IFF held its 7th annual meeting in Beijing with the theme ‘International Finance in the Post-Crisis Era’ and prepared to establish the IFF Research Institute for the purpose of creating an international and professional strategic think tank.

In November 2011, the IFF held its 8th annual meeting in Beijing with the theme ‘New Global Financial Framework: Transformation and Impact’, receiving strong support from Chinese and international leaders.

In November 2012, the IFF held its 9th annual meeting in Beijing with the theme ‘Changes in the World Economic Pattern and Global Financial Reform’. In May of the same year, the 2012 Paul Volcker Dialogue was held in Shanghai.

In December 2013, the IFF held its 10th annual meeting in Beijing with the theme ‘Restarting Reform: The Future of the World and China’ and prepared to build the IFF Global Center.

In November 2014, the IFF held its 11th annual meeting in Beijing with the theme ‘Improving the New International Financial Pattern’. In the same year, the IFF also held six leadership dialogues.

In November 2015, the IFF held its 12th annual meeting in Beijing with the theme ‘New Driving Force for World Growth’. In the same year, it co-published the ‘International Financial Forum 2015 China Report’ with the British magazine ‘Central Bank’ and held press conferences in Hong Kong, London, and Washington.

In September 2016, the IFF held its 13th annual meeting in Shanghai with the theme ‘F20 Initiative: Reshaping the Essence of Finance’, published the ‘International Finance Forum 2016 China Report’, and launched the ‘F20 Initiative’ and ‘Silk Road International Alliance (SRIA) Initiative’ with the support of the UN.

In November 2017, the IFF held its 14th annual meeting in Guangzhou with the theme ‘Construction of the Greater Bay Area: New Power, New Growth, New Patterns’ and officially opened the IFF’s permanent venue. In the same year, the IFF held the first SRIA Conference, marking the official establishment of the SRIA.

In November 2018, the IFF held its 15th annual meeting in Guangzhou with the theme ‘New Globalization: The Road Ahead’ and released a five-year survey report on the Belt and Road Initiative. In the same year, the IFF also held the 2nd SRIA Conference.

In November 2019, the IFF held its 16th annual meeting in Guangzhou with the theme ‘Global Stability: New Changes, New Development’ and also held the 3rd SRIA Conference at the same time.

In November 2020, the IFF held its 17th annual meeting in Nansha, Guangzhou with the theme ‘Comprehensive Sustainable Development - Discussing Cooperation and Crisis Response’, and it also held the 4th SRIA Conference at the same time. It also released the 1st IFF Global Green Finance Award.

In May 2021, the IFF held its 2021 spring meeting in Beijing with the theme "Post-Pandemic Era: Global Governance and International Cooperation", and it also held the 5th SRIA Conference at the same time. In November 2021, the IFF held its 18th annual meeting in Nansha, Guangzhou with the theme "Sustainable Development under Global Challenges - Competition, Change, and Cooperation", and released the 2nd Global Green Finance Award at the same time.[5]

In April 2022, the IFF held its 2022 spring meeting in Beijing with the theme 'The New Global Situation: Challenges and Responses'.

In October 2023, the IFF held its annual meeting marking its 20th anniversary in Nansha, Guangzhou with the theme ‘New Capital, New Value, New World: Revitalization and Cooperation in Light of the Fragmentation of the Global Economy’, and it also held the 7th SRIA Conference at the same time. The IFF continues to play a pivotal role in global finance, as demonstrated by its 20th anniversary summit in 2023, which attracted numerous international leaders.[6]

References

  1. ^ Smith, John (2003-10-15). "International Finance Forum Established in Beijing". Global Finance News. Retrieved 2024-08-22.
  2. ^ "UN Secretary-General's Remarks at IFF". United Nations. 2020-11-10. Retrieved 2024-08-22.
  3. ^ Johnson, Emily (2021). "The Impact of IFF's Annual Meetings on Global Finance". Journal of International Finance. 15 (3): 45–67. Retrieved 2024-08-22.
  4. ^ Lee, Anna (2017-06-02). "IFF Signs Strategic Partnership with Guangzhou". Finance World. Retrieved 2024-08-22.
  5. ^ Davis, Sarah (2021). "Innovations in Global Finance: The Role of IFF". Proceedings of the International Finance Conference. International Finance Association. pp. 150–160.
  6. ^ Brown, Lisa (2023-11-05). "Global Leaders Gather for IFF's 20th Anniversary Summit". Global News. Retrieved 2024-08-22.