IPALMO was founded in 1971 in Rome by a group of policy strategists, trades union leaders, politicians, journalists, writers and others in their desire to create a forum in Italy for closer focus on the problems of the developing world. IPALMO is an international, non-profitmaking research institute whose initial aim was the study of political and economic scenarios in Africa, Latin America and the Middle East. IPALMO's scope was subsequently extended in the wake of sweeping political changes in the areas of greatest importance for Italian foreign policy and to address ongoing economic problems related to globalization. Over the years, IPALMO has been raising awareness in Italy of African, Latin American and Asian affairs and has stimulated lively debate between political forces and civil society on Italian foreign and co-operation policy in relation to the developing world. The Institute membership spans a broad cultural spectrum, including business analysts, community leaders and university professors.

For the past 29 years, IPALMO has been publishing a bi-monthly journal, "Politica Internazionale", a source of information and insight for researchers and experts into ongoing political and socio-economic problems in developing countries within the wider context of international relations.

The Institute also has a library and archive of over 20,000 volumes. It is open to the public and also receives upwards of 300 periodicals from all over the world.