imf world bank meeting Nicholas Kamm/AFP/Getty Images

¿Nueva vida para los DEG?

WASHINGTON, DC – El ascenso de movimientos políticos antiglobalización y la amenaza del proteccionismo comercial han llevado a algunos a preguntarse si la economía mundial no necesita una base multilateral más sólida que permita reducir el riesgo de fragmentación. No hay que olvidar que el esquema actual (hoy bajo intensa presión) surgió del fuerte deseo de nuestros antecesores, tras la Segunda Guerra Mundial, de minimizar el riesgo de políticas nacionales de “empobrecer al vecino” como las que en los años treinta obstaculizaron el crecimiento, la prosperidad y la estabilidad mundial.

Hace casi cincuenta años, consideraciones similares impulsaron la creación de los derechos especiales de giro del Fondo Monetario Internacional, precursores de una moneda mundial. Hoy, el renovado interés en la estabilidad del sistema monetario internacional hace que algunos (incluso dentro del FMI) se pregunten si reformular los DEG puede ayudar a revigorizar el multilateralismo.

Uno de los motivos que impulsaron inicialmente la creación de los DEG fue el temor a que una moneda nacional no pudiera a la vez satisfacer las necesidades de liquidez del mundo y actuar como un activo de reserva mundial confiable (lo que los economistas llaman “dilema de Triffin”). Con la creación de una moneda no nacional gestionada por el FMI, los países miembros buscaban introducir un activo oficial de reserva que permitiera sostener y reforzar el sistema monetario internacional.

To continue reading, please log in or enter your email address.

Registration is quick and easy and requires only your email address. If you already have an account with us, please log in. Or subscribe now for unlimited access.


Log in;
  1. Patrick Kovarik/Getty Images

    The Summit of Climate Hopes

    Presidents, prime ministers, and policymakers gather in Paris today for the One Planet Summit. But with no senior US representative attending, is the 2015 Paris climate agreement still viable?

  2. Trump greets his supporters The Washington Post/Getty Images

    Populist Plutocracy and the Future of America

    • In the first year of his presidency, Donald Trump has consistently sold out the blue-collar, socially conservative whites who brought him to power, while pursuing policies to enrich his fellow plutocrats. 

    • Sooner or later, Trump's core supporters will wake up to this fact, so it is worth asking how far he might go to keep them on his side.
  3. Agents are bidding on at the auction of Leonardo da Vinci's 'Salvator Mundi' Eduardo Munoz Alvarez/Getty Images

    The Man Who Didn’t Save the World

    A Saudi prince has been revealed to be the buyer of Leonardo da Vinci's "Salvator Mundi," for which he spent $450.3 million. Had he given the money to the poor, as the subject of the painting instructed another rich man, he could have restored eyesight to nine million people, or enabled 13 million families to grow 50% more food.

  4.  An inside view of the 'AknRobotics' Anadolu Agency/Getty Images

    Two Myths About Automation

    While many people believe that technological progress and job destruction are accelerating dramatically, there is no evidence of either trend. In reality, total factor productivity, the best summary measure of the pace of technical change, has been stagnating since 2005 in the US and across the advanced-country world.

  5. A student shows a combo pictures of three dictators, Austrian born Hitler, Castro and Stalin with Viktor Orban Attila Kisbenedek/Getty Images

    The Hungarian Government’s Failed Campaign of Lies

    The Hungarian government has released the results of its "national consultation" on what it calls the "Soros Plan" to flood the country with Muslim migrants and refugees. But no such plan exists, only a taxpayer-funded propaganda campaign to help a corrupt administration deflect attention from its failure to fulfill Hungarians’ aspirations.

  6. Project Syndicate

    DEBATE: Should the Eurozone Impose Fiscal Union?

    French President Emmanuel Macron wants European leaders to appoint a eurozone finance minister as a way to ensure the single currency's long-term viability. But would it work, and, more fundamentally, is it necessary?

  7. The Year Ahead 2018

    The world’s leading thinkers and policymakers examine what’s come apart in the past year, and anticipate what will define the year ahead.

    Order now