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In RealTime posts, PIIE senior staff and colleagues discuss the fast-moving economic news, financial developments, and public policy choices confronting the United States and the world.
The G-20 summit meeting in London, which ended on Thursday (April 2), produced a good result. It is premature to call it “a new Bretton Woods,” or a “new global order,” or even “a turning point”—but the leaders did much better than was expected only two months ago and they delivered on many of the [...]
Judged against the low expectations before the G-20 meeting, the outcome of the London summit meeting was not too bad. The G-20 communiqué signaled one clear and important achievement: beefing up the resources of the International Monetary Fund (IMF) substantially and by agreeing to issue $250 billion in new Special Drawing Rights (SDRs)—a proposal originally [...]
With our myriad banking problems, rapidly rising unemployment, looming political battles over the budget, and much more on the pressing domestic agenda, is the G-20 summit in London (dinner Wednesday and meeting Thursday) really worth all the time and effort that the president and his team have devoted to it? And, granted that President Obama [...]