Manfred Wiebogen Honorary President ACI
Manfred Wiebogen Honorary President ACI

Foreign Exchange facing a world of uncertainties

At the end of February I had the opportunity to participate at the ‘Bretton Woods @ 70 – Regaining Control of the International Monetary System’ conference in Vienna. The meeting was jointly hosted by the Reinventing Bretton Woods Committee, the Austrian Federal Ministry of Finance and by the Oesterreichische Nationalbank.

First of all, the conference was well attended by speakers and participants from the IMF, Fabrizio Saccomanni, Minister of Finance Italy, Jacques de Larosière, Former Managing Director IMF, Már Gudmundsson, Governor Central bank of Iceland, Ewald Nowotny, Governor Oesterreichische Nationalbank, Ellen Goldstein, Country Director World Bank and many representatives from various Central Banks (Bank of England, Central Bank of the Republic of Turkey), universities and other institutions.  At this conference brilliant minds were discussing at a very high level the history of the financial markets, its recent developments and were trying to find answers and solutions to specific challenges and market abnormalities. Many ideas were brought forward. The Chinese Representative, Li Ruogu, Chairman and President of The Export-Import Bank of China wonderfully reviewed the Bretton Woods System and provided us with  an assessment of the current international monetary system. He identified a lack...continued

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