This paper aims at drawing lessons from Keynes's plan presented at the Bretton Woods conference, in order to help improving current regional monetary agreements in Latin America. Some promoters of the Bank of the South and the New Financial Architecture in Latin America are proposing to...

Reducing transaction costs and the need for international reserves is a primary objective to the establishment of regional payment agreements. Another objective, especially in the case of Latin America where the Ecuadorian promoters of the Bank of the South and the New Architecture are planning...

Section 1 will present, as a starting point, the regional payments and unit of accounts agreements in Latin America: the Reciprocal Payments and Credits Agreement of the Latin American Integration Association or ALADI, the ‘Peso Andino” set up by the Latin American Reserve Fund (FLAR) and...