
After Macri’s Reforms, Argentina Makes an Ideal G20 Leader
The G20 played a clear and decisive role in coordinating the international response to the financial crisis of 2008 and 2009. In particular, the establishment in 2009 of the Financial Stability Board, a body that monitors the global financial system, helped shape post-crisis regulation. Decisions taken at a G20 summit to significantly increase the resources of the IMF buttressed financial stability and helped reinforce confidence.
As immediate financial crisis has eased, however, efforts to engineer faster growth or address the problems of global imbalances have been less successful. Successive summits zig-zagged about what was the most appropriate fiscal response, with the group in 2009 agreeing a commitment to relaxation only to reverse course the following year.… Seguir leyendo »