For nearly eight decades, the multilateral system built after 1945 functioned within a largely U.S.-led order. The United Nations, International Monetary Fund, and World Bank were not only products of that moment but extensions of its hierarchy: institutions designed for coordination under a stable hegemon. Today, however, that unipolar structure is giving way to a fragmented, multipolar world in which legitimacy and influence are more diffuse and crises cross borders. Reform debates have intensified, yet institutional change remains constrained by a design logic that prioritizes central authority and largely consensus-based decision-making. This paper proposes a model of federated multilateralism for a new multipolar system. In this framework, regional and thematic institutions lead activity while aligning through shared norms, evaluation frameworks, and interoperable infrastructure. Drawing on lessons from the IMF’s quota reforms, the World Bank’s evolving partnership programs, and the UN’s growing reliance on regional partnerships, the paper demonstrates how decentralization is already occurring in practice, though without coherent design. Rather than redistributing power within existing hierarchies, a federated approach reimagines the UN, IMF, and World Bank as connective platforms linking a constellation of regional actors. This structure would preserve global coordination while enabling pluralism, flexibility, and legitimacy in a world no longer defined by a single center of power. Ultimately, the paper argues that effective reform requires moving beyond the logic of unipolar governance toward a networked model that reflects the realities of today’s multipolarity.

Authors:
Katelyn Oxer, College of William and Mary, United States

About the Presenter(s)
Katelyn Oxer is a strategy consultant at the World Bank and the Global Research Institute. She researches international development and organization reform.

Connect on Linkedin
https://www.linkedin.com/in/katelynoxer/

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