On June 26, France released an outcome document from the Summit for a New Global Financing Pact, which brought together governments, multilateral develop banks (MDBs) and other stakeholders to consider reforms to the global financial system. Titled “the multilateral development banks vision statement,” the document was signed by 50 countries including the G7, with China notably absent. Together, the signatories commit to “a new global financial compact to address the challenges of today and tomorrow in a spirit of cooperation and solidarity.” So just what are the elements of this new global compact?   […]