Time: 08:00-09:00, Wednesday, February 19, 2025 (EST)
21:00-22:00, Wednesday, February 19, 2025 (CST)
Attendance: Open to the public
Location: Zoom Webinar
The G20 made a commitment in 2020 to reduce the cost and increase speed, transparency, and access of such transactions and to make the global payments regime more inclusive by 2027. In the light of such, the Bretton Woods Committee's Multilateral Reform Working Group recently published a report “A Dual Strategy to Transform Cross-Border Payments” highlighting the pressing need for improvements in the global payments system. The Report emphasizes the current inefficiencies, high costs, and limited access associated with cross-border payments, particularly impacting low-income households and small businesses. The report outlines two pathways to a dual-strategy approach for the global instant payment regime.
We are delighted to host a virtual fireside dialogue between William C. Dudley, Chair of the Bretton Woods Committee and Siddharth Tiwari, Vice President of the International Finance Forum , both of whom will share the Report recommendations.
William C. Dudley, Chair, Bretton Woods Committee; Former President of Federal Reserve Bank of New York
Siddharth Tiwari, Vice President, International Finance Forum; Former Chief Representative for Asia and Pacific of Bank for International Settlements
William C. Dudley is currently a Senior Advisor at the Griswold Center for Economic Policy Studies at Princeton University. From 2009-2018, Mr. Dudley served as the president and chief executive officer of the Federal Reserve Bank of New York. In that capacity, he served as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC), the group responsible for formulating the nation's monetary policy.
Previously, Mr. Dudley served as executive vice president of the Markets Group at the New York Fed, where he also managed the System Open Market Account for the FOMC. The Markets Group oversees domestic open market and foreign exchange trading operations and the provisions of account services to foreign central banks. Prior to joining the Bank in 2007, Mr. Dudley was a partner and managing director at Goldman, Sachs & Company and was the firm's chief U.S. economist for a decade. Prior to joining Goldman Sachs in 1986, he was a vice president at the former Morgan Guaranty Trust Company. Mr. Dudley was an economist at the Federal Reserve Board from 1981 to 1983.
Mr. Dudley received his doctorate in economics from the University of California, Berkeley in 1982 and a bachelor's degree from New College of Florida in 1974.
In 2012, Mr. Dudley was appointed chairman of the Committee on the Global Financial System of the Bank for International Settlements (BIS). Previously, Mr. Dudley served as chairman of the Committee on Payment and Settlement Systems of the BIS from 2009 to 2012. He is a member of the board of the directors of the BIS and a member of the Coinbase Global Advisory Council.
Siddharth Tiwari became chief representative of Asia and Pacific, Bank for International Settlements (BIS) on 1 November 2018.
Before joining the BIS, Mr. Tiwari served as executive secretary to the G20 Eminent Persons Group on Global Financial Governance from 2017 to 2018. From 1985 to 2017, he was at the IMF, where he occupied top-level positions and shepherded the institution's work on strategy, policy and lending operations, as well as on administrative matters. He also has significant experience in international policymaking and cooperation, including on issues of great relevance to the Asia-Pacific region.
He earned his master's and doctorate degrees in economics from the University of Chicago.
Gerry Rice is the former Spokesman of International Monetary Fund (IMF), and Director of the Communications Department from December 2011. Prior to this, he served as Deputy Director for the Communications Department (2006-2011).
As Director of Communications, Dr. Rice served as the Spokesman for the IMF and was responsible for the Fund's strategy on external engagements with media and the Fund's key stakeholders, including legislatures and parliaments, labor representatives, civil society groups, and academics, as well as the Fund's internal communications. The Director works closely with the Managing Director and senior Fund management, advising on the communication of IMF operations, including policy and lending decisions.
Prior to joining the IMF, Mr. Rice had an illustrious 25-year career at the World Bank. Amongst other positions, he served at the World Bank as Communications Director, where he managed all aspects of the World Bank's external and internal communications.
Dr. Rice has the distinction of being the only person to have ever served as director of information communication for both IMF and World Bank.
Over 1999-2000, Mr. Rice also returned to his native Scotland to help with the international economic dimensions of the devolution project that was launched with the establishment of the first Scottish Parliament in 300 years. At that time, he published a book entitled "Scotland's Global Opportunity".
Mr. Rice earned his PhD in Modern History from Glasgow University and was a Kennedy Scholar at Harvard University. His PhD thesis on the establishment of the US Peace Corps was later published as The Bold Experiment. He is also a graduate of Harvard's Management Development Program and has served as Visiting Professor at Glasgow University.