Beyond the Dollar: Rethinking the International Monetary System
Chatham House Report
Edited by Paola Subacchi and John Driffill, March 2010
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This report maps out proposals for a new international monetary order
and looks at ways in which monetary authorities and political leaders
can help prepare the ground for a new system and facilitate the
transition.
Key recommendations include:
A multicurrency reserve system for a multipolar world economy
Promote dialogue and policy coordination to provide stability,
confidence and balanced adjustment
Strengthen the role and legitimacy of international institutions,
including how the surveillance role of the International Monetary Fund
(IMF) can be reinforced to address more effectively the problem of
exchange rates and payments disequilibrium.
Consideration of how the shape of the international monetary system in
the 21st century will be significantly influenced by the interests and
the requirements of the emerging powers, including how the dollar-
based monetary system is no longer adequate for a larger and more
integrated world economy.
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