Tuesday, March 9, 2010

Head of IMF Proposes New Reserve Currency

International Monetary Fund logo.Image via Wikipedia

clipped from abcnews.go.com


Dominique Strauss-Kahn, the head of the International Monetary Fund, suggested Friday the organization might one day be called on to provide countries with a global reserve currency that would serve as an alternative to the U.S. dollar.


"That day has not yet come, but I think it is intellectually healthy to explore these kinds of ideas now," he said in a speech on the future mandate of the 186-nation Washington-based lending organization.


He said having other alternatives to the dollar "would limit the extent to which the international monetary system as a whole depends on the policies and conditions of a single, albeit dominant, country."


Several countries, including China and Russia, have called for an alternative to the dollar as a reserve currency and have suggested using the IMF's internal accounting unit.

 blog it

Reblog this post [with Zemanta]

Amazon

LinkWithin

Related Posts with Thumbnails

wibiya widget