IMF executive board backs $650 billion SDR allocation
Allocation is set to be largest in the fund’s history, with launch expected in August
The International Monetary Fund is close to launching its largest-ever allocation of special drawing rights (SDR), after its executive board backed the move.
Executive directors voted in favour of a “general” SDR allocation worth $650 billion, the IMF said in a statement on July 9. The allocation will help boost the reserves of countries worldwide and could prove particularly beneficial to emerging market economies that have more limited room for policy manoeuvre.
“This is a shot in the arm
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