The United Nations consider that the world is in need of a new currency

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The United Nations consider that the world is in need of a new currency

The United Nations countries should agree and found world reserve bank which would emit new currency and would carry out monitoring of exchange rates of currencies of the countries-founders. It is told in the document published according to the results of the Geneva conference of the United Nations on trade and development, writes The Washington Times.

This year the management of China, India, Brazil and Russia has suggested to find replacement to dollar as the main reserve currency — a push to it was served by the financial crisis which caused by a collapse of the market of the mortgage in the USA and has caused the horrible recession since the Second World War. The management of China — the world’s largest holder of dollar actives — believes that world stability can be strengthened by introduction of the transnational currency similar so-called to «the special rights of loan» International currency fund (IMF).

«At possibility of management in exchange rates on the basis of the multilateral arrangement will be much more chances to provide a stable picture of exchange rates, — has declared, giving interview in Geneva, the director of conference of the United Nations for trade and development and the co-author of the mentioned document. — the new initiative similar, for example, Bretton-Vudu or the European currency system» is necessary.

And though it would be desirable to give to «the special rights of loan» — a registration unit based on a basket of currencies, — the additional force, one this measure will not be enough for rescue of the «new» markets which are most in great need in liquidity. The former deputy minister of the finance of Germany, Fljasbek has told about it ,he worked together with the deputy minister of the finance of the USA Lawrence Summers over liquidation of consequences of financial crisis in Asia from 1997 for 1998.

According to representatives of the United Nations, the country with «the new» markets are too poorly presented to IMF because of what, efficiency of functioning of «the special rights of loan» under the improved scheme decreases. As experts consider, it is necessary to generate the organisation which would be engaged in management of exchange rates on the basis of a purchase power and taking into account inflationary differentials and a level of development.

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