central bank

CBDC: A quiet revolution

Central Bank Digital Currencies (CBDCs) will transform the international financial architecture. CBDCs are a new form of money and follow the historical pattern in which the evolution of money leads to changes in payment systems, international reserves and monetary policy. Fiduciary money (today's money, whose value does not come from a tangible excellent or precious metal but from trust in the issuing institution) underwent the same process. They were for local use; CBDCs instead are global.

Autor:

Bertin Acosta

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central bank

nueva arquitectura financiera internacional

Criptomonedas

CBDC

The world turned upside down: indebted to development

The Keynesian premise of international finance was to allow rich, surplus countries to finance the economic development of poor, deficit countries. For some time now, this has not been the case. In the following, we will analyse the enormous debt of the developed countries and their relationship with their developing country creditors. For example, the G7 is the group of debtor countries in the G20, and the other 12 are emerging creditor countries with ample international reserves. The EU as a block is not taken into account here.

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