The International Monetary Fund’s general allocation of special drawing rights (SDRs) in 2021 helped countries worldwide recover from the Covid-19 pandemic, a review finds.

In August 2021, the IMF issued the equivalent of $650 billion in SDRs, which were allocated to members according to their quota shares. The fund’s assessment report, published online on August 29, found the allocation boosted reserves, which in turn helped to cut countries’ risk premia, lowering government borrowing costs.