Adapting the international monetary system to face 21st century challenges
Recent calls for more intense debate on and reforms to the international monetary system imply that the current system is unable to respond appropriately and adequately to challenges that have appeared, or become more acute, in recent years. This paper focuses on four such challenges: ensuring an orderly exit from global imbalances, facilitating more complementary adjustments between surplus and deficit countries without recessionary impacts, better supporting international trade by reducing currency volatility and better providing development and climate finance. After describing them, it proposes reforms to enable the international monetary system to better respond to these challenges.
|Date of creation:||May 2011|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.un.org/en/development/desa/working-papers.html|
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