ABSTRACT

Making the IMF's Special Drawing Rights Work for COVID-19 Economic Relief   [open pdf - 528KB]

From the Document: "Many prominent people have advocated that the IMF [International Monetary Fund] undertake an 'SDR [Special Drawing Rights] allocation' to assist countries in dealing with the global financial crisis brought about by the COVID-19 [coronavirus disease 2019] pandemic. To most experts, the idea seems like a no-brainer, but some IMF shareholders have voiced concerns, particularly the United States, which has a controlling vote in the matter. If IMF shareholders show some leadership and bureaucratic flexibility, there are ways to allay the American government's concerns and quickly get liquidity in the hands of countries who desperately need it."

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Date:
2020-05
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Center for Global Development. Posted here with permission. Document is under a Creative Commons license and requires proper attribution and noncommercial use to be shared: [https://creativecommons.org/licenses/by-nc/4.0/]
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Center for Global Development: https://www.cgdev.org/
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pdf
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application/pdf
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