CIAO DATE: 07/2011
May 2011
Peterson Institute for International Economics
Reform of the international monetary system was placed on the agenda of the Group of 20 (G-20) a year ago at the initiative of the incoming French leadership of the G-20. On November 4, 2011 in Cannes, France, the G-20 leaders will announce their conclusions and agreements after a year and half of intense dialogue and debate. The discussions cover (1) surveillance of the global economy and financial system, (2) international lender of last resort mechanisms, (3) capital flows and financial pressures, (4) the currency and reserve asset system, and (5) governance of the international monetary system. While the governance issue, in the form of governance of the International Monetary Fund (IMF), is not explicitly on the agenda of the G-20 leaders, the resignation of Dominique Strauss-Kahn as managing director of the IMF has placed it on the agenda with high priority.
Resource link: The Outlook for International Monetary System Reform in 2011: A Preliminary Report Card [PDF] - 274K