De Nederlandsche Bank published a speech by Governor Klaas Knot calling for renewed international monetary diplomacy and continued public support for the international financial rules-based order, arguing that cooperation remains essential to manage cross-border financial stability risks amid heightened geopolitical tensions. Knot warned that rising fragmentation, trade restrictions and protection of strategic industries are straining post-war economic and financial cooperation and weakening the system in which the International Monetary Fund and the World Bank act as key pillars. Drawing on his experience as Chair of the Financial Stability Board, he argued that commitment to international work on financial stability persists and that the IMF and World Bank remain well placed to provide a global view and to warn about the impacts of trade wars, economic isolationism and collective inaction on challenges such as climate change.
De Nederlandsche Bank 2025-02-14
De Nederlandsche Bank urges governments and central banks to defend the international financial rules-based order
De Nederlandsche Bank Governor Klaas Knot emphasized the need for renewed international monetary diplomacy and public support for the international financial rules-based order. Knot highlighted that rising geopolitical tensions and economic fragmentation threaten global financial stability and the roles of the International Monetary Fund and World Bank. He stressed the importance of continued cooperation to address challenges like trade wars and climate change.