Special drawing right (SDR)
IMFC backs new trust to channel resources to vulnerable economies
Resilience and Sustainability Trust would offer support to a wider set of countries and could be used to share out special drawing rights
Cubero calls for expanded IMF role
Costa Rica governor endorses Resilience and Stability Trust proposal
US and IMF block Taliban access to Afghanistan assets
IMF will not allow Taliban to receive SDRs, while US freezes central bank reserves
Mexican president demands IMF assets from central bank
Governor rejects proposal and former presidential ally says it would be legally impossible
Global economy faces ‘decisive moment’ – IMF’s Gaspar and Gopinath
Policy-makers have “window of opportunity” to help those falling behind in Covid-19 recovery
IMF governing board signs off on ‘historic’ SDR allocation
Decision paves way for $650 billion worldwide infusion of liquidity later this month; mechanism for rich countries to pass on their share still unclear
IMF raises caps on loans to poorer countries
Reforms also provide new funding to anti-poverty trust
IMF mulls SDR reallocation ‘trust’
Fund is considering ways SDR allocation can be channelled to vulnerable countries
IMF executive board backs $650 billion SDR allocation
Allocation is set to be largest in the fund’s history, with launch expected in August
Chinese CBDC could bolster renminbi internationalisation – Hui Feng
Academic believes digital currency efforts could facilitate renminbi’s international acceptance and ‘popularity’
China and private sector could free ride on SDR issuance – El-Erian
Economist calls for development of a new common sovereign debt restructuring framework; Vera Songwe says many countries need more debt relief
IMF delays SDR valuation review
Delay reflects priority placed on Covid-19 response and possible clash with other workstream
Yellen backs proposal for SDR issuance
G20 calls on IMF to develop proposal for “general allocation of SDRs”
IMF raises precautionary balance target by a quarter
Some executive board members wanted higher raise amid uncertainty over pandemic’s impact
IMF should issue more SDRs – Brazilian governor
Brazil’s recovery will be crucially affected by external factors, Campos Neto tells Central Banking
Is SDR issuance the best way to support low-income economies?
Economists and policy-makers are increasingly discussing the option as a way to boost liquidity in the fight against Covid-19
IMF doubles emergency lending capacity
Fund considering other options including SDR issuance, says Kristalina Georgieva
New ‘currency’ aims to tackle failings of its predecessors
Saga sits somewhere between a stablecoin and a crypto asset – and has been designed by a team that includes former central bankers
‘Hegemonic digital currency’ could help fix global system – Carney
Using CBDC to facilitate online sales could bring about more rapid change, governor says
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats
Guinean central bank benefits from reform programme – IMF staff
Bank has improved internal systems and lowered financing of government, staff report says
IMF agrees new aid package for Ukraine
Statement praises Ukrainian reforms but says aid will still be linked to continuing progress
Zimbabwe clears debt with IMF but hurdles to financing remain
IMF looks to extend debt deadline for Somalia and Sudan
Reserve managers cautious on renminbi, despite predicting rapid growth
Market liberalisation, government intervention and PBoC’s approach to new areas of investment are top concerns