ECONOMY: FINANCIAL STABILITY
With the rise of alternative systems and central bank digital currencies amid ongoing geopolitical instability, the choices made at the Rio Summit could reshape global financial stability and governance
New money: a crucial juncture for the future of international payments
T
he G20 summit in Rio on 18–19 November 2024 comes at a critical time for determining the future of
the international payments system. That system has worked very well for the past 80 years, led by the now US-centred private sector and its Society for Worldwide International Financial Transfers (SWIFT) system to deliver rapid, inexpensive money transfers across borders and oceans to sustain international commerce, without the need for an intergovernmental agreement or organisation to serve
ƐIåĻĻĞüåŹƐIåýž , senior research associate ěĸƈČīńÅ°īƈÿĸ°ĸÎä×ƈ G20 Research Group
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G20 BRAZIL: THE RIO SUMMIT — 2024
globalgovernanceproject.org
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