Après le dollar

NEW YORK – C’est un fait symbolique que le récent sommet des BRICS à Fortaleza, au Brésil, se soit déroulé exactement sept ans après la Conférence de Bretton Woods qui a créé le Fonds monétaire international et la Banque mondiale. Le résultat de la réunion des BRICS a été l'annonce de la New Development Bank, qui mobilisera des ressources pour les infrastructures et des projets de développement durable, ainsi qu’un arrangement de réserves contingentes destiné à fournir des liquidités au moyen de swaps de devises.

La conférence de Bretton Woods a marqué l'un des plus grands exemples de coopération économique internationale de l'histoire. Et, bien que personne ne puisse encore dire si les initiatives des BRICS vont réussir, elles représentent un défi majeur pour les institutions de Bretton Woods, qui devraient y répondre. Repenser le rôle du dollar dans le système monétaire international est un bon exemple.

Une caractéristique fondamentale du système de Bretton Woods était que les pays fixaient leurs taux de change par rapport au dollar américain. Même si le système a été effectivement éliminé en 1971, le rôle central du dollar dans le système monétaire international est resté intact – une réalité que de nombreux pays sont de plus en plus réticents à accepter.

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