The focus in this paper is on the international reserve currency dispensation that could best serve the world. In particular, aspects of South Africa’s experience with exchange rate reform, currency internationalization and monetary integration are highlighted in an attempt to extract elements that may be of relevance to reform the international monetary system (IMS). Views regarding the adjustment measures that other countries are already implementing are outlined, followed by an indication of preferences regarding the options for further orderly adjustment of the IMS.
Challenges of the International Monetary System and Response Options: A South African Perspective
Paper No. 7