COC

global imbalances

G20 Summit: Timid Nod Given to Reform of the Monetary System (November 2010)

Rethinking Bretton Woods | Tue, Nov 30, 2010

G20 Summit: Timid Nod Given to Reform of the Monetary System (November 2010)

The Seoul Summit, held in November 11-12, 2010, gave only a very timid nod to the reform of the international monetary system, this article argues. There can be little doubt that the unique confluence of forces in 2011 and the years to follow represents the most favorable political environment to reexamine and set the basis for a renewed monetary system that the world has seen in the last 40 years. Whether those favorable factors will be enough to actually yield tangible reform, remains to be seen.

 US Dollar Reserve Status an "Exorbitant Privilege," IMF says (December 2009)

Rethinking Bretton Woods | Fri, Dec 18, 2009

US Dollar Reserve Status an "Exorbitant Privilege," IMF says (December 2009)

Last month IMF staff released "The Debate on the International Monetary System," a Staff Position Note SPN/09/26 ("the IMF paper").[i]

Though the paper is conspicuously not a Board paper, it represents an important development in the context of an international policy debate where the dominant voices had generally ignored the need for tackling the monetary system in a significant way.