This paper analyses three major problems of the current international monetary system: the asymmetric-adjustment problem, dependence on the monetary policy of the main reserveissuing country, and the large demand for self-insurance by developing countries. It then proposes two reform routes:...

Many developing countries are still grappling with the consequences of the pandemic and the associated high debt burdens while facing huge financing needs, inter alia related to climate change. In response, the International Monetary Fund (IMF) issued $650 billion in Special Drawing Rights...

The International Monetary System (I.M.S.) has a crucial role in economy, representing the frame for a sustainable development of the economic relationships between states, while contributing at the progress of the world’s economies. Nowadays, this system confronts large difficulties, as a...