Belgium has always maintained that global challenges can only be overcome in a multilateral framework and is therefore almost systematically a founding member of all these international organisations, including not only the European Union and the United Nations, but also other organisations like the OECD, the OSCE and the Council of Europe. This overall problem-solving framework aims to provide solutions to these challenges and to ensure that the positive developments resulting from globalisation are both sustainable and shared fairly across the world’s population.
The Bank for International Settlements (BIS) is the oldest international financial institution. It was founded in 1930. It promotes cooperation between the major central banks, which are its shareholders and form its Board of Directors. It also acts as a bank for central banks.
The decision to establish the Financial Stability Board (FSB) was made during the G20 Summit in London on 2 April 2009. It succeeded the Financial Stability Forum. All the G20 members, Spain, the Netherlands, Switzerland, Singapore, the European Union, and Hong Kong are represented. The role of the FSB is to identify vulnerabilities in the global financial system and put forward measures to remedy them. It acts as a forum for the States, international organisations and sector-based associations involved in financial stability.
The International Monetary Fund (IMF) is an international financial institution that ensures the stability of the international monetary and financial system. It is based in Washington and governed by its 186 member countries, to which it is accountable.
The Organisation for Economic Co-operation and Development (OECD) was created in 1961. It succeeded the Organisation for European Economic Co-operation, which was founded in the context of the Marshall Plan.