Vikram Raghavan is Lead Counsel, International Law in the World Bank’s environment and international law practice group. He was previously the Bank’s legal advisor for conflict, refugees, and macroeconomic issues. Besides working on projects for two decades, Vikram has dealt with a wide range of international law and policy questions. These questions involve the Bank’s international legal personality, charter, and development mandate; policy loans and conditionality; dealings with military and security agencies and non-State actors; refugees and displacement engagements; humanitarian crises; military coups and sanctions; and sovereign debt, expropriation, and contractual disputes. Vikram was closely involved with updating the Bank’s policy on conflict and with the 2023 World Development Report: Migrants, Societies, and Development. He received the Bretton Woods at 75 Award for his contributions to preserving the Bank’s history and collective memories.
1. Your career spans a diverse range of legal and policy matters, from working on World Bank projects to private practice at O’Melveny & Myers. What motivated your transition from private practice to international development, particularly at the World Bank?
After graduating from the National Law School in 1997, I went on to pursue a Master’s degree in International Law at New York University School of Law. While at New York University (NYU) like many of my peers, I began searching for a job. I sent out applications to many law firms. One of them, O’Melveny & Myers, called me for an interview. I am not sure if they realised it, but I had no significant law firm experience at that time. Even so, I managed to secure an Associate’s position in the firm’s New York office. I worked there for almost three years before transitioning to the World Bank.
Looking back, I should have stayed longer in private practice. However, while at O’Melveny & Myers, an opportunity to work in the World Bank’s Legal Department presented itself. I had always been drawn to international law and broader policy issues. So, I applied for the position. At the time, I did not fully appreciate the role or responsibility of an in-house lawyer did. But I was fortunate to get the job after lengthy interview process.
In hindsight, I think that I should have stayed a bit longer at a firm. In-house positions, whether in the public or private sector, typically do not offer younger lawyers the same training opportunities as law firms that work directly with clients.
While my work at the law firm was financially rewarding, it involved mostly corporate and tax matters. I was quite clear that I did not want to keep doing such work for the rest of my career. So, when the World Bank offered me the job, I promptly took it.
2. You have been deeply involved in the World Bank’s knowledge agenda, notably contributing to reports on conflict, security, development, and migration and refugees. Could you kindly share insights into how these reports shape the Bank’s policies and interventions on the ground?
Under its charter, the World Bank’s primary responsibility is to make loans and guarantees for projects. Over time, the World Bank has transitioned from mainly funding projects to providing countries with technical assistance and expertise, drawing on its extensive experience, practical insights, and knowledge base.
The World Development Report, launched in 1978, is one of the World Bank’s flagship knowledge products. Each year, the Bank selects a theme to delve into the development implications across various fields. Past reports have explored topics such as poverty reduction, the role of the State, economic transitions, and challenges related to conflict, security, and development.
I was involved with the 2011 World Development Report, which focused on conflict, security, and development. More recently, I was part of the core team which worked on the 2023 Report, which addressed the developmental implications of refugees and forced displacement.
The 2024 World Development Report, which has just been released, focuses on middle-income countries. It highlights the challenges faced by countries like India in their efforts to transition into higher-income economies. In the last few decades, many countries moved from being classified as low-income to middle-income. However, many countries stagnate at the middle-income level for decades. To progress to higher-income status, the report suggests that countries must invest in technology, innovation, and human capital. This is a very interesting report, and I encourage readers to download it from the World Bank’s website.
3. As someone deeply involved in legal education and mentorship, what guidance would you wish to offer to law students or aspiring lawyers interested in pursuing careers in the International Law?
My advice to law students and aspiring lawyers interested in international law is to build a strong foundation in both domestic and international legal principles. International law cannot be studied in isolation, as it often draws from domestic law, making a comprehensive understanding of both essential for a successful career.
One significant change since my time as a student is the increased availability of internships and fellowships in international law, which provide valuable networking opportunities and help you refine your career goals. I strongly encourage you to pursue these opportunities if you can. Plan internships thoughtfully, ideally after completing your foundational courses and in the advanced years of your program, such as the 4th or 5th year of a five-year law degree.
Lastly, stay informed about the rapidly evolving field of international law. Even if you are not currently practising, keeping up with the latest developments can greatly enhance your career prospects. Employers appreciate candidates who not only have a strong grasp of the basics but are also knowledgeable about current trends and changes in the field.
4. You received the Bretton Woods at 75 Award for preserving the Bank’s history and institutional memory. Could you elaborate on the significance of this recognition and the importance of preserving institutional knowledge within international organisations?
Receiving the Bretton Woods at 75 Award was an unexpected honour. This recognition motivated me to dive deeper into the history of the 1944 Bretton Woods Conference — whose eightieth anniversary we observe this year — and the evolution of the World Bank and the International Monetary Fund (IMF) over time.
For me personally, the award itself reflects something that is second nature to lawyers: recalling precedents, institutional practices, and explaining them in context. In my work, I have tried to weave a historical perspective to understanding development challenges and devising legal and policy solutions.
I believe that preserving institutional knowledge is crucial for anyone working within international organisations. Understanding what happened before they joined an institution can help staff navigate current challenges and anticipate future developments.
5. India’s role in the global economy is expanding rapidly, with implications for international trade, investment, and financial regulation. How do you see India’s legal framework adapting to these shifts in facilitating integration into the global marketplace?
The evolution of a country’s legal framework alongside its economic growth is a well-known concept. India has primarily followed a homegrown approach to legal reform, with Indian policymakers leading the way in adapting laws to support economic changes. Unlike some nations that rely on external assistance, India’s significant legal reforms have largely been developed internally, reflecting the country’s specific needs and contexts.
For instance, the creation of the Telecom Regulatory Authority of India (TRAI) in the late 1990s was part of India’s second wave of telecom reforms. While international trade negotiations influenced some aspects of TRAI’s creation, the core institutional and legal framework for the regulator was designed to fit India’s unique requirements and its constitutional scheme. TRAI is a good example of how the Indian legal system has evolved in response to economic reforms without compromising national sovereignty. As India continues to integrate into the global marketplace, its legal framework is likely to further adapt in ways that balance international standards with domestic priorities.
6. Economic sanctions, sovereign debt, and contractual disputes are areas where you have provided legal advice. Can you discuss an instance where you had to manage the legal complexities, and how you approached finding a resolution on or mitigating potential risks for the parties involved?
Much of my work on economic sanctions, sovereign debt, and contractual disputes involves sensitive, confidential, or privileged information, so I cannot share specific details.
However, one innovative development challenge to which I have been fortunate to contribute involves the World Bank’s growing engagements with refugees and forced displacement.
Initially, the World Bank avoided refugee-related projects due to concerns that these projects involved primarily humanitarian rather than developmental concerns. As the Bank deepened its engagement with conflict-affected situations, it began to recognise that forced displacement also entailed significant development challenges particularly for countries that host refugees.
I was part of the team that explored whether assisting member countries with refugee and displacement issues aligned with the Bank’s development responsibilities. We found that it did. And from there, we worked on establishing legal and operational frameworks for the Bank’s involvement. We also helped institutionalise collaboration with United Nations High Commissioner for Refugees (UNHCR), aligning our efforts with their mandate on refugee protection — a partnership that required considerable coordination. I have touched on these developments in an article co-authored with colleagues, recently published in a book on international law and development.1
7. How did your recent visit to the Omni Mount Washington Resort in Bretton Woods, the historic site of the 1944 United Nations Monetary and Financial Conference, deepen your understanding of the significance and impact of the agreements that established the World Bank and IMF?
Bretton Woods, a small town in New Hampshire, is home to the historic Mount Washington Hotel. It was at this hotel that the United Nations Monetary and Financial Conference — known as the Bretton Woods Conference — took place in July 1944. The conference led to the creation of the World Bank and the IMF the following year.
As someone with a long-standing interest in international finance and development, visiting Bretton Woods had been on my list for years. I finally made the trip in late June this year, and the experience was even more impactful than I expected. I am not exaggerating when I say it was somewhat like visiting the Taj Mahal — much better than the pictures suggest, and it can take your breath away when you first see it.
While the hotel is certainly not the Taj Mahal, the site is still a staggering one to behold. The hotel is still operational, and although the rooms have been renovated, the basic design has remained largely unchanged.
The hotel’s grandeur and its remote location — preserved much as it was in 1944 — brought the history of the place vividly to life. Walking through the same rooms where delegates from 44 countries, including India, gathered was a powerful reminder of the scale and significance of their achievement. In just three weeks, without the aid of modern technology, they negotiated two complex agreements that reshaped the global monetary system.
The visit deepened my appreciation for the determination and focus of those delegates, working under challenging conditions to establish the foundations of the World Bank and IMF — an outcome that continues to influence global finance today.
8. As a co-founder of “Law and Other Things”, how do you view the impact of digital platforms on the dissemination of legal knowledge and public engagement with legal issues? What role do you believe online forums play in enhancing transparency and accountability within legal systems, especially in the context of how these platforms have evolved over the past 15 years?
Our goal in creating Law and Other Things — an initiative that I undertook in my private capacity in 2005 — was to create a platform for law students to publish their work, particularly those who might not have opportunities to appear in traditional law reviews. Back then, we did not have many legal journals, and there were no other blogs focused on constitutional or public law in India. The blog endeavoured to provide students a sense of achievement by seeing their names in print and making legal analysis accessible to a broader audience.
Another key motivation was to provide timely and in-depth analysis of legal issues, which traditional law reviews often could not do due to their lengthy publication timelines. We wanted to create a platform for contemporaneous commentary on significant judicial or legislative developments.
Of course, the legal landscape has evolved significantly over the past two decades since the blog was established. There are now many digital and print fora for publishing and legal scholarship, commentary, and analysis. However, there remains a need for cross-institutional platforms where students, scholars, and researchers can contribute their ideas and analysis without being tied to a particular law school.
Through the hard work of its many editors and contributors, Law and Other Things has cultivated a loyal readership, including many outside India. It is important to continue encouraging this interest by attracting competent and qualified contributors from abroad to participate in platforms like Law and Other Things and other law reviews.
9. In a world marked by growing polarisation and mistrust of institutions, what role do you believe legal professionals should play in fostering dialogue, reconciliation, and social cohesion and how can the legal profession reclaim its role as a guardian of justice and champions of the public interest in an era of cynicism and division?
In my personal view, legal professionals play a crucial role in upholding the rule of law in any country. In my view, the work, writing, and advocacy of lawyers and other legal professionals are vital to preserving constitutional values, speaking truth to power, and keeping the public informed about their rights.
The significant expansion of legal education in India — marked by the emergence of numerous law schools across the country — has led to greater public interest, awareness, and engagement with the constitution and the legal system. Many more individuals are not only studying and practising law but also actively participating in public debates about the constitution, the courts, and the broader legal system.
In a world marked by polarisation and institutional mistrust, the expanded interest in legal education and public engagement with the law is a silver lining. It offers hope for a more just, peaceful, and prosperous future.
1. Siobhan McInerney-Lankford and Robert McCorquodale, The Roles of International Law in Development.
