Special Drawing Rights

Spanish economy 3rd November 2021

Spain to earmark 20% of its special drawing rights to the trust funds for vulnerable countries

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…

In the World, World economy 26th March 2021

The IMF Will Come To The Rescue

Carlos de Sousa (Vontobel) | Early on in the pandemic the IMF attempted to expand its allocation of Special Drawing Rights (SDRs) to its member states, to help developing countries cope with the crisis and provide additional global liquidity. The Trump administration blocked this effort at the time, but now the Biden administration is in charge, a consensus appears to be building among the G7 nations regarding the approval of a $500 Bn of SDR allocation.

World economy 11th November 2015

The Real Reason China Wants Yuan in IMF’s Basket

Marc Chandler via Caixin | A mountain peak is easier to see when viewed from a valley than from the summit. Similarly, it may be easier to understand the changes in China’s currency regime if we take a step back and try to look at the big picture: Beijing wants its currency added to the SDR mechanism for status reasons, not to benefit its exports.