The G-20 was meant to “lessen the dollar’s central role”.¹ Reform of the international monetary system was put at the top of the agenda by France during its presidency of the G-20 in 2011. The G-20 summit in Cannes, France, on November 3–4, and the end of the French presidency produced only general provisions and few, if any, concrete deliverables. There had earlier been concerns that reform momentum had been lost and that reform zeal was lacking. The G-20 finance ministers’ communiqué of