GLOBAL FINANCIAL SYSTEM AND THE ROLE OF RESERVE CURRENCIES. SEARCH FOR STABILITY

GLOBAL FINANCIAL SYSTEM AND THE ROLE OF RESERVE CURRENCIES. SEARCH FOR STABILITY

17 June, 10:15–11:30

The world’s reserve currency system is undergoing increasingly visible shifts. The inclusion of the yuan in the SDR basket is symbolic of the growing weight of the developing nations. While the US economy as a percentage of global GDP in relative terms is shrinking, the role of the US dollar in global finance remains deeply entrenched. What are the risks inherent to a global financial system tied so closely to the “greenback”, and what steps can and should be taken to create a more stable basket of currencies?







Broadcast

Key moments

The task of the Russian authorities is to diversify the national economy, making the export and foreign exchange inflow more stable, which, under higher stability and lesser dependence on oil exports, will make the Russian rouble more resilient.
Alexey Kudrin
The rouble has decent grounds for being a reserve or convertible currency because we do not restrict capital flows.
Alexey Kudrin