Alphavalue | Spanish Prime Minister, Pedro Sánchez, has announced that the country will earmark 20% of its special drawing rights to the trust funds for vulnerable countries. The special drawing rights (SDR) are an international reserve asset, created by the International Money Fund in 1969 to supplement its member countries’ official reserves.
Specifically, Sánchez has said that a minimum of 350 million euros will be destined for boosting the capital reserves earmarked for Education, Poverty and Growth. The remaining amount, meanwhile, will be donated to the Resilience and Sustainability Fund which the IMF will set up in the future.
