Tuesday, July 16, 2024
HomeNewsCaribbean NewsJohannes Wiegand on bimetallism and monetary stability

Johannes Wiegand on bimetallism and monetary stability

IMF Podcasts

WASHINGTON, USA – While the currency values of today’s economic powerhouses help maintain global financial stability, the currency systems in the 19th century were tied to precious metals and France played the stabilizing role.

In the early 1800s, most countries tied their currencies to silver or gold, but Napoleon tied the French franc to both, which sparked the era of global bimetallism.

IMF economist Johannes Wiegand has studied bimetallism, and in this podcast, he says this almost-forgotten 19th-century episode shows that international cooperation is essential for a stable global monetary system.

Read the article in our latest issue of Finance & Development.

Listen to the podcast.

Bruce Edwards, Producer, IMF Podcasts.



Please enter your comment!
Please enter your name here


Caribbean News

Eastern Cuba makes strides toward circular economy

By Caribbean News Global HOLGUÍN, Cuba, (ACN) - A number of enterprises in the province of Holguin are already applying the postulates of circular...

Global News

UN deputy chief calls for major arms spending cuts and urgent action to save SDGs

By Vibhu Mishra NEW YORK, USA, (UN News) - The UN Deputy Secretary-General on Monday urged global leaders to redirect resources from warfare to peace and...