Dollar Strength, Dollar Strain: Navigating a New Global Monetary Order
Virtual Briefing Series
Monday, November 24th, 2025 | 12:00 PM – 1:00 PM ET
The U.S. dollar has long anchored global trade, investment, and financial stability. Yet, in recent years, forces both within and outside of the United States are rethinking dollar dominance. President Trump’s proposed Mar-a-Lago Accord aims to devalue the dollar while retaining its global reserve status. Simultaneously, threats to Federal Reserve independence and Washington’s growing debt are eroding the value of the dollar, which is down over 5% in the last year vs other major currencies. Internationally, the BRICS nations are expanding trade in local currencies, to reduce exposure to U.S. sanctions and policies. These trends are prompting policymakers to reexamine the role of the dollar in the global economy. Is the era of uncontested dollar dominance ending? What would a more multipolar monetary order mean?
Join us on Monday, November 24th, from 12:00 to 1:00 PM ET, for a virtual briefing with Dr. Otaviano Canuto, Senior Fellow at the Policy Center for the New South and Former Vice-President and Executive Director of the World Bank, and Dr. Jeffrey A. Frankel, Professor of Capital Formation and Growth at Harvard Kennedy School and former member of the Council of Economic Advisors. This conversation will unpack the drivers of de-dollarization, assess the real prospects for BRICS and other challengers, and explore the policy choices that will shape the future of the international monetary system.
THIS SESSION IS OPEN TO EVERYONE AROUND THE WORLD
SPEAKERS:
Dr. Otaviano Canuto
Dr. Otaviano Canuto, based in Washington, D.C, is a former vice president and a former executive director at the World Bank, a former executive director at the International Monetary Fund, and a former vice president at the Inter-American Development Bank. He is also a former deputy minister for international affairs at Brazil’s Ministry of Finance and a former professor of economics at the University of São Paulo and the University of Campinas, Brazil. Currently, he is a senior fellow at the Policy Center for the New South, a professorial lecturer of international affairs at the Elliott School of International Affairs – George Washington University, a nonresident senior fellow at Brookings Institution, and a professor affiliate at UM6P.
Dr. Jeffrey A. Frankel
Dr. Jeffrey A. Frankel is a Professor of Capital Formation and Growth. He is a Research Associate at the National Bureau of Economic Research. He served at the Council of Economic Advisers in 1983-84 and 1996-99; as CEA Member in the Clinton Administration, Frankel’s responsibilities included international economics, macroeconomics, and the environment. Before coming to Harvard in 1999, he was Professor of Economics at the University of California at Berkeley.
His research interests include currencies, commodities, crises, international finance, monetary policy, fiscal policy, regional trade blocs, and international environmental issues. Born in San Francisco, he graduated from Swarthmore College, and received his economics PhD from MIT.
THIS SESSION IS OPEN TO EVERYONE AROUND THE WORLD
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