Sovereign International Treasury Monetary One
We recommend for all countries to have necessary flexibility to implement countercyclical measures and the adoption of individualized and targeted anti-crisis measures.
The aim of Sovereign International Treasury Monetary One is simplifying the terms of lending to developing countries, making lending relevant and individualized, pursuing specific goals and providing support to developing countries, facing financial and economic problems.
While recognizing the role of private capital flows in mobilizing financing for development, there are serious challenges posed by excessive short-term capital inflows to many developing countries, requiring the design and implementation of capital flow management measures – such as macroeconomic policies, macroprudential measures and other forms of capital account regulation, needing to take into account the specific circumstances of individual countries. We request interested nations’ ministries of economy to consider both the benefits and disadvantages of suggested measures.
Sovereign International Treasury Monetary One condemns cryptocurrencies that have been formed and are being formed lacking a valid collateral. Their creation undermines the process of stabile transition to a new financial system, further enabling money laundering, financing of criminal activities, extremism and terrorism.
Regional and subregional development banks and development funds should continue to play a vital role in serving the development needs of developing countries and countries with economies in transition. We welcome their recent capital increases and in addition, encourage efforts to ensure, that subregional development banks are adequately funded, confirming our readiness to provide both funds and collateral.