“The Future of the International Monetary System”, a presentation by Mark Sobel, former Deputy Assistant Secretary of the Treasury, Executive Director of the International Monetary Fund, and current U.S. Chair next Tuesday (April 4) at the HF DeLuca Forum (“Discovery Building”), 330 N. Orchard Street.by the European Research Center and La Follette School of Public Affairs.
Why is the US dollar the main international currency in the world? To what extent are the euro and renminbi potential challengers to the dollar? Are sanctions against Russia by the US and its allies strengthening or threatening the dollar’s global financial dominance? What is the biggest threat to dollar hegemony in the next few years? Should the Fed take international developments into account when setting monetary policy? Drawing on his decades of experience as senior officials at the U.S. Treasury Department, the G7, G20, and the International Monetary Fund, Mark Sobel will discuss these critical questions about the global financial and international monetary system. Mark KopelovicMenzie Chinn, Director of European Studies and Professor of Public Affairs and Economics, will serve as a discussant.
One aspect of dollar dominance is the use of the dollar as a reserve currency.
figure 1: Reserve share, from IMF, COFER.
A previous deal with Sobel (and Bob Dohner) in USD (back in 2020) here.
Mark Sobel also appear in La Follette Seminar “International Monetary Fund – Current Challenges” (Wednesdays, 12:30-1:45).Topics include
Criticism of the IMF from the left and the right, reflections on the role of the IMF in global financing, governance structures and resource adequacy, low-income country debt, Ukraine, and climate.
