counting renminbi Woo/He Featurechina/Ropi/ZumaPress

Moderniser le FMI

PRINCETON – Le système international de gouvernance économique est arrivé à un moment décisif de son histoire. Après 70 années, les institutions de Bretton Woods (le Fonds Monétaire International et la Banque mondiale), paraissent démodés et leur légitimité même est remise en cause dans de nombreux secteurs. Si ces institutions veulent rester compétentes, d'importants changements seront nécessaires.

Le FMI en particulier est confronté à des défis sur tous les fronts. Aux États-Unis, le Congrès est en perte de vitesse non seulement sur des questions internationales comme le commerce, mais aussi sur la mise en œuvre des réformes permettant d'élargir le rôle des économies émergentes au sein du FMI. Pour sa part l'Europe a attiré l'organisation dans sa crise de la dette, la Grèce ayant déjà manqué à un paiement sur ses prêts du FMI (bien que le Fonds ne désigne pas cela comme un défaut de paiement). Et en Asie, le FMI porte toujours un stigmate, suite à sa réponse erronée à la crise financière de la région à la fin des années 1990.

Comment le FMI peut-il reprendre sa fonction de gardien de la stabilité financière internationale ? Une solution pourrait consister à ajuster son actif de réserve international, le droit de tirage spécial (DTS), en ajoutant le renminbi chinois au panier de devises qui détermine sa valeur.

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