Member Views

Bretton [email protected]: Thomas A. Bernes on the impact of the Bretton Woods Institutions

Dr. Thomas A. Bernes has been Vice President of Programs at The Centre for International Governance Innovation (CIGI) since November 2009 and also serves as its Executive Director.

Building Back a Better Financial Safety Net

The year 2021 is year two into the most important decade of the century where drastic reductions in carbon dioxide emissions and inequalities in a manner that raises standards of living is paramount to the survival of the world’s people and planet earth itself.

By naming China a currency manipulator, Mnuchin has damaged his credibility

Treasury Secretary Steven Mnuchin on Monday named China a currency manipulator — the first manipulation designation in a generation...

Can the West Counter the BRI?

It is no secret that the West is exceedingly uncomfortable with China’s Belt and Road Initiative (the BRI) and its role in building infrastructure in developing countries, and for good reasons. The terms of these investments by China’s parastatal banks are opaque and recent research reveals that contracts include non-disclosure covenants to keep them so. That said, it is China that is pouring the most money into infrastructure investments into Sub-Saharan Africa in particular in a way that no one else can match.

Can Turkey Rewrite the Crisis-Management Rules?

Rather than sticking with the approach taken by numerous other countries – including Argentina earlier this year – by raising interest rates and seeking some form of IMF support, Turkey has shunned both in a very public manner. Unless it changes course, the government risks much wider damage – and not just in Turkey.

Can We Expect a “New Bretton Woods”?

As the world economy and its governance structure continue to evolve at an accelerating rate, calls for reform of multilateral institutions are growing louder.

Capital Adequacy Approach to Bank Soundness is Fundamentally Flawed

"The International Monetary Fund should be at the centre of the arrangements for international financial surveillance," argues BWC member DeLisle Worrell.

"Its board is fully representative – even if in need of reform – to reflect the economic and financial weight of members, and it has a large and talented staff devoted to the analysis and surveillance of the international monetary, financial and exchange system."

CBDC-50 Years After the End of Bretton Woods

50 years ago, the Bretton Woods system of fixed exchange rates came to a sudden stop. It seemed the end of an era of multilateral and rules-based monetary cooperation considered critical to facilitate international payments.

Central Bank Digital Currencies: Reordering International Monetary Relations

Financial technology seems set to have a major impact on monetary relations.

Central Bankers Must Keep Financial Stability in Mind as They Fight Inflation

BWC member Hung Tran: "central banks should be more transparent in explaining how they take into consideration the impacts of excessive risk taking as well as banking and financial crises when formulating monetary policies—both during the easing and tightening phases."