Dollar risks rising but Plaza Accord-style coordination not feasible now: ex-IMF adviser

With central banks prioritising domestic objectives, Plaza Accord-style exchange-rate coordination is now out of reach despite growing concerns over the dollar-centred monetary system, complicating the smooth transition to a more multipolar international monetary system, according to a prominent economic historian. Barry Eichengreen, a former senior policy adviser at the International Monetary Fund, said that if erratic US policies and weakening institutional guard rails were to persist for...

By Sylvia Ma