An international monetary system that acknowledges countries’ and economies’ interdependence and that fosters growth, stability and fairness at the global level is important for world prosperity and the operation and growth of companies. In that context, the IMS has shown some major deficiencies: 1) Exchange rate volatility; 2) Short-term capital flows; 3) The frequency and magnitude of financial crises.
This is why individual companies and the world economy as a whole have come to the same idea: a stable international monetary system requires that G20 countries commit to sound domestic policies, a better co-ordination of those policies, the restoration of financial sector stability and pro-growth structural policies.