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Jul 02, 2022 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Special Drawing Rights

Big economies agree to boost IMF funding, Georgieva says
World

Big economies agree to boost IMF funding, Georgieva says

  • "We finally last Friday at the G20 meeting got a green (light) to work on a new SDR allocation," Kristalina Georgieva said during the IMF's African Fiscal Forum, broadcast online.
  • "500 billion - in which each and every member of the IMF would receive its own share immediately contributing to reserves," she said, without specifying the currency unit.
Published 02 Mar, 2021 09:21pm
France flags G20 consensus on tax reform, IMF SDRs, debt
World

France flags G20 consensus on tax reform, IMF SDRs, debt

  • Le Maire said talks on rewriting decades-old rules on cross-border taxation needed to wrap up by summer and that a new allocation of International Monetary Fund (IMF) special drawing rights, along with a new G20 framework to ease poor countries' debt, were needed.
Published 26 Feb, 2021 09:21pm
Yellen supports new allocation of IMF's SDR currency to help poor nations
World

Yellen supports new allocation of IMF's SDR currency to help poor nations

  • Reversing the opposition of the Trump administration, Yellen told G20 finance officials in a letter that a new SDR allocation could boost liquidity for poor countries, which have been particularly hard hit by the global coronavirus pandemic.
  • Without further international action to support low-income countries, we risk a dangerous and permanent divergence in the global economy.
Published 25 Feb, 2021 08:50pm