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Greetings,

As we step into a dynamic new year, we wanted to share a preview of the year ahead. As always, BWC remains committed to staying at the forefront of the policy dialogue on the global economy. Our work in 2025 will cover a broad range of topics from digital finance, AI, and cross-border payments to sovereign debt, energy security, and multilateral reform. We will convene as usual in the Spring and Fall alongside the IMF/WB meetings but will seek to hold events in new destinations including the UAE.   

We look forward to a year of thoughtful collaboration, research, and engagement as we navigate this dynamic year together.

Kind Regards, 
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Emily Slater

Executive Director

Ι Global Headlines

Ι AI and Digital Finance take center stage in Davos led by private-sector experts

Ι Progress made in Sri Lanka's debt restructuring but the lengthy process shows we still need improvements in sovereign debt restructuring

Ι President Trump sets crypto policy agenda favoring stablecoin development in time for upcoming BWC publication on stablecoins from the Future of Finance Working Group

Ι At the beginning of South Africa's G20 Presidency, the World Bank announces a transformative energy plan with African Leaders

Ι At the World Economic Forum, leaders call for "Renewed Global Collaboration" agreeing with BWC's Multilateral Reform Group that multilateralism is key to solving the world's most complex challenges
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Ι BWC Research and Event Highlights

NEW PUBLICATION I A Dual Strategy to Transform Cross-Border Payments 

BWC’s Multilateral Reform Working Group (MRWG) has published its second report, A Dual Strategy to Transform Cross-Border Payments, authored by William C. Dudley. The report outlines two pathways to a global instant payments regime. The first connects existing national Instant Payment Systems (IPS) through a hub-and-spoke model, while the second envisions a system where tokenized assets settle on a unified ledger, known as the 'Finternet.' Developing these systems will require coordinated international leadership across multiple institutions.

UPCOMING EVENT I Transforming Cross-Border Payments

To accompany the release of our latest publication, William C. Dudley will be joined by Tobias Adrian, Maha El Dimachki, and Alexandre Riccio De Oliveira for a virtual panel on cross-border payments moderated by Emily Slater. The panel will focus on the two main paths to a global payment system recommended in the report, as well as the risks and challenges to implementing them. Register now to attend on 12 February at 10am ET.

EVENT RECAP I Global Economic Prospects Briefing: Insights and Analysis with M. Ayhan Kose Recap

Following the release of the World Bank Group's Global Economic Prospects report, principal author M. Ayhan Kose sat down with BWC Member Stephanie Segal to share the report's key takeaways with our membership.
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Ι BWC 2025 Roadmap

SAVE THE DATE I Spring Summit

We are pleased to announce that planning is underway for BWC's annual Spring Summit. The event will be held during the week of the IMF and World Bank Spring Meetings, scheduled for 21–26 April. Further details will be shared with all of our members in the near future. We hope to see you in Washington, DC!

NEW WORKING GROUP I Artificial Intelligence

BWC is adding Artificial Intelligence as our newest area of research. Co-Chaired by Sarah Hammer and Bill Dudley, our AI Working Group will launch its work plan this year. The work will explore AI in finance, with a specific focus on its transformative potential and how best to address the regulatory gaps it creates. If you are interested in getting involved in this Working Group, please reach out to cretell@brettonwoods.org.

UPCOMING REPORTS I Stablecoins and Tokenization

BWC's upcoming publications will focus on the timely topics of stablecoins and tokenization, exploring their growing impact on financial markets. These two reports will provide in-depth analysis of the evolving regulatory landscape, use cases, and technological advancements in both areas. Stay tuned for their release, as we share key insights that will shape the future of digital assets and blockchain innovation.

NEW DESTINATION I Future of Finance Forum in the UAE

This year's Future of Finance Forum will take the Bretton Woods Committee to a new location in September—the United Arab Emirates. As a global hub for innovation and financial transformation, the UAE provides an apt setting for insightful discussions on the Future of Finance. Stay tuned for more details.

SAVE THE DATE I Annual Meeting 

In October, BWC will host our Annual Meeting alongside the World Bank's and IMF's Annual Meetings in the autumn, which are set for 13–18 October 2025 in Washington, DC. Details regarding the theme, speakers, and specific date of this event will be shared later in the year. We are excited to host our global membership in Washington, DC this autumn. 
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Ι Commentary from BWC Members

SOUTH CHINA MORNING POST Ι Trump's America Will be Forced to Grapple with a Rising Brics by William R. Rhodes and Stuart P.M. Mackintosh

NEW YORK TIMES Ι Listen to the Bond Market, Because It's Flashing a Warning by Rebecca Patterson

BWC BLOG Ι New Windows for a More Realistic Approach to Climate Financing by Creon Butler and Afsaneh Beschloss

CIRCLE Ι Leaders from Circle, the Bretton Woods Committee and the IMF Discuss Stablecoins at the Wharton "Future of Finance" Forum by David Anderson

SWISS FINANCIAL INNOVATION DESK Ι Pathway 2035 for Financial Innovation - Your Navigator by Claudia Grisard Barbour and the FIND Authors
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