In the years since the SDR was created, the international monetary system has experienced a number of profound changes. The present paper sketches the effects of these changes on perceptions of the role that the SDR can and should play in that system

Especially with the Asian financial crisis of 1997-1998, Asian countries have advocated a profound reform of the international financial architecture. Their proposals focused on two main axes: a reform of the global financial system and stronger regional monetary integration in Asia. There are...