Pour une véritable démocratisation du FMI

Les pays émergents, du Chili à la Chine, demandent depuis un certain temps une "démocratisation" du Fond monétaire international (FMI) - le cœur du système financier international. Ils veulent avoir davantage leur mot à dire la prochaine fois que le Fond décidera d'un prêt à un pays émergent comme l'Argentine, le Brésil, l'Indonésie ou la Turquie (malheureusement, aussi bon que semble le climat actuel des marchés, il y aura sûrement une prochaine fois pour certains pays). En attendant, va inévitablement se forger un nouveau Consensus de Washington des bonnes pratiques en matière de politique économique. Les pays en voie de développement veulent sentir qu'ils en seront partis prenante, que ce soit pour le pire ou le meilleur.

Je suis totalement d'accord. Le "déficit démocratique" du FMI met sérieusement en question sa légitimité politique et sa capacité à stabiliser les situations de crise. Mais sa véritable démocratisation n'adviendra que lorsque les pays émergeants les plus avancés défendront leur noble rhétorique à coups d'espèces sonnantes et trébuchantes.

C'est précisément le moment de passer aux actes, d'autant que les Etats-Unis sont devenus sans conteste le premier emprunteur de la planète. Ils drainent à eux 75% de l'épargne mondiale. Aujourd'hui, même des pays qui étaient au bord de la faillite comme la Corée, la Russie et le Mexique sont inondés de dollars. Pourquoi ne pas en utiliser une partie pour une bonne cause ?

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