Call for new world currency by IMF

Dominique Strauss-Kahn, managing director of the International Monetary Fund (IMF) has called for a global currency based on the IMF’s Special Drawing Rights (SDRs). These were created by the IMF in 1969 and were initially intended to be the major asset to be held in foreign exchange reserves under the Bretton Woods fixed exchange rate system. However, the fixed rate … Continue reading

Posted by Nigel Tree | Comments Off on Call for new world currency by IMF