Despite decades of discussion and incremental reforms, the global financial system remains heavily skewed in favor of developed nations, leaving the Global South marginalized. The existing international financial systems and institutions are often structured in ways that perpetuate economic imbalances between the Global North and South. In 2022, many of the world's poorest countries saw their debt service payments to the global financial institutions skyrocket by 35%. The lack of adequate Global South representation in these institutions only deepens disparities, reinforcing a cycle of dependency and underdevelopment.

Against this backdrop, this session will critically examine the systemic inequities embedded within international financial institutions and frameworks, which often perpetuate the economic imbalances between the Global North and South. How does the global financial system fail to produce the intended result? How does the current structure fail to represent voices from the Global South? The session will also explore possible pathways for creating a more inclusive and equitable global financial system—one that genuinely reflects the diversity of the world's economies and provides the Global South with the opportunities and resources needed to thrive in an increasingly interconnected world.