This mirrors what we have already been doing at the global level for many years via our network of representatives and representative offices. As well as allowing us to establish valuable contacts, this international network also provides us with important insights into the economic and financial situation of each country.
An in-depth exchange of ideas in joint consultations and projects can bring differing viewpoints to light early on, deepening mutual understanding and trust and strengthening multilateral cooperation. For example, in the past, my colleagues here at the New York Representative Office have liaised with the Fed’s network of representatives to organise events such as presentations – about the Bundesbank’s gold book, for instance.