CentralBanking.com (CB): Would you judge the Istanbul meetings a success for the global economic order?
Barry Eichengreen (BE): They were not a failure. The global economic order is never remade in a single meeting. Bretton Woods was the conclusion of three years of planning and negotiation.
What came out of Istanbul were three things, all of which remain vague, and at least one of which is achievable.
First, in terms of increasing the representation of emerging markets in both the IMF and the
- Central bank digital currency a ‘terrible idea’, US Congress told
- People: Olli Rehn enters office as Bank of Finland governor
- Trump criticises Fed over rate rises and threatens higher tariffs
- ECB’s easing policies reduced inequality, paper says
- Infrastructure financing not harmed by post-crisis reforms – FSB