International Democracy Watch

Everything suggests that the next crisis will concern international liquidity. The "creation" of 1,500 billion dollars by the Fed, on the occasion of the coronavirus, responds to the need to lighten American banks from the excessive weight of Treasury Bonds. The issue had been anticipated by the Robert Triffin International in the Report “Managing Global Liquidity as a Global Public Good” (December 2019).

The goal remains to develop the use of the SDR as a gradual replacement of the dollar as an international currency, but the path becomes less direct due to Donald Trump's hostility towards any supranational organization, including the IMF. It is therefore necessary to develop the reference to the SDR in the monetary areas under formation, such as the African one, to strengthen the international multi-currency monetary system (dollar, euro, renminbi, SDR) and so that later the SDR can become its common denominator.