Camila Villard Duran is a professor of law at the University São Paulo and an Oxford-Princeton Global Leaders Fellow at the Woodrow Wilson School of Public and International Affairs, Princeton University.
Dear Ocampo, I absolutely agree with you: the time for the SDR is now - more than ever. Considering the G20 presidencies in 2015 and 2016 being held by emerging powers, it is time to put this very important institutional creation in practice to solve liquidity problems of emerging and developing countries. However, I disagree with you on how to do that: the future of the SDR, in my opinion, is less as world money and more as central hub for liquidity in a variety of supranational currencies (including, the RMB). The focus of the policy debate should change from the SDR as money per se towards the improvement of the SDR Department. I explained my argument in a recent policy brief published by the GEG /University of Oxford: http://www.globaleconomicgovernance.org/avoiding-next-liquidity-crunch-how-g20-must-support-monetary-cooperation-increase-resilience-crisis
Thank you for your op-ed. It is very insightful! All the best, Camila Duran
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