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Special Drawing Rights

G7 makes progress on pandemic relief for poorer nations: UK
World

G7 makes progress on pandemic relief for poorer nations: UK

  • Britain - which is chairing the Group of Seven (G7) this year - said G7 finance ministers had agreed to support a "new and sizeable" increase in the volume of Special Drawing Rights (SDRs), an internal currency used by the IMF.
  • Any expansion of SDRs will need to be agreed with other countries ahead of the IMF's spring meeting that takes place in April.
Published 19 Mar, 2021 09:08pm
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