Bahamas SDR law gets parliamentary approval
Opposition claims government wants to legalise use of IMF assets after the fact
The lower house of the Bahamian parliament approved a law on April 24 to guarantee the government’s power to use special drawing rights (SDRs). The government has already taken more than $200 million in SDRs from the central bank, and the opposition charges it did so illegally.
The International Monetary Fund issues SDRs to member states periodically. These are hard-currency assets, based on a basket of five reserve currencies, that members can use as reserves or in fiscal operations.
In 2021
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