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Regional currencies and regional monetary zones in Latin America : what prospects ?


  • Jean-François Ponsot

    () (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique)

  • Claude Gnos

    (LEG - Laboratoire d'Economie et de Gestion - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique)


This paper aims at drawing lessons from Keynes's plan presented at the Bretton Woods conference, in order to help improving current regional monetary agreements in Latin America. Some promoters of the Bank of the South and the New Financial Architecture in Latin America are proposing to implement a regional clearing system designed to allow a multilateral offsetting of the liabilities and assets generated in the reciprocal transactions of member countries in words that the British economist certainly would not have denied. This system would be very different from current regional payments aggreements that maintain an implicit reference to the US dollar as reserve or payment currency.

Suggested Citation

  • Jean-François Ponsot & Claude Gnos, 2009. "Regional currencies and regional monetary zones in Latin America : what prospects ?," Post-Print halshs-00402275, HAL.
  • Handle: RePEc:hal:journl:halshs-00402275
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    References listed on IDEAS

    1. Claude Gnos, 2006. "Reforming the international payment system : an assessment," Post-Print halshs-00144965, HAL.
    2. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-115, March.
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    Cited by:

    1. repec:grt:wpegrt:2014-21 is not listed on IDEAS
    2. Jean-François Ponsot, 2012. "Financement soutenable et création monétaire en régime de dollarisation : le cas de l'Équateur," Post-Print halshs-00687369, HAL.
    3. Ilene Grabel, 2012. "Financial Architectures and Development: Resilience, Policy Space, and Human Development in the Global South (revised June 2012)," Working Papers wp281_revised, Political Economy Research Institute, University of Massachusetts at Amherst.

    More about this item


    Latin America; monetary agreements; regional monetary zone; zone monétaire; monnaie; politique monétaire; échange international; paiement; Amérique Latine;

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