La fragmentación de Bretton Woods

LAGUNA BEACH – El mundo ha cambiado considerablemente desde que los líderes políticos de 44 países aliados se reunieron en 1944 en Bretton Woods, New Hampshire, con el objetivo de  crear un marco institucional para el orden económico y monetario luego de la Segunda Guerra Mundial. Lo que no ha cambiado en los últimos 70 años es la necesidad de instituciones multilaterales fuertes. Sin embargo, el respaldo político nacional a las instituciones de Bretton Woods -el Fondo Monetario Internacional y el Banco Mundial- parece haber alcanzado un mínimo histórico, lo que mina la capacidad de la economía global de alcanzar su potencial y contribuye a la inseguridad geopolítica.

Cuando tuvo lugar la conferencia de Bretton Woods, sus participantes entendieron que el FMI y el Banco Mundial eran integrales a la estabilidad global. De hecho, ambas instituciones fueron diseñadas para desalentar a los países individuales de adoptar políticas cortoplacistas que perjudicaran el desempeño de otras economías, incitaran a acciones de represalia y, en definitiva, afectaran a toda la economía global. En otras palabras, están destinadas a impedir el tipo de políticas proteccionistas que muchas economías importantes adoptaron durante la Gran Depresión de los años 1930.

Es más, al promover una mejor coordinación de las políticas y un pool de recursos financieros, las instituciones de Bretton Woods promovieron la efectividad de la cooperación internacional. Y mejoraron la estabilidad al ofrecer un seguro colectivo a los países que enfrentaban dificultades temporarias o se esforzaban por satisfacer sus necesidades de financiamiento del desarrollo.

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