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IMF’s Lipsky on SDRs as International Reserve Currency

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  • Wed, Dec 17, 2008 - 11:33pm

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    Caasi

    Caasi

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    IMF’s Lipsky on SDRs as International Reserve Currency

On Bloomberg, Dec 17, 2008 about 3:45 into the 5 minute clip. At Council on Foreign Relations. Kathleen Hayes talking to John Lipsky, First Deputy Managing Director of IMF. In answer to a question from Jim Grant about any possibility of an early IMF structure like the original Bretton Woods, ie anything like fixed exchange rate or gold backed dollar coming out of this monetary chaos?

Lipsky says it’s not near term practical possibility, but there will be talk about potentially enhancing the roll for Special Drawing Rights, SDR, the so-called paper gold, created by IMF in 1970’s as a potential useful international reserve currency. That’s not a near term issue, but certainly there will be talk of that.

http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/flush/vETS4DZ0o7g0.asf

-Caasi

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