IMF approves $650bn SDR allocation
<p> MINSK, Aug 3 - PrimePress. The Board of Governors of the International Monetary Fund (IMF) has approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion on August 2, 2021, to boost global liquidity, the IMF said in a press-release. </p> <p> </p> <p> “This is a historic decision – the largest SDR allocation in the history of the IMF and a shot in the arm for the global economy at a time of unprecedented crisis. The SDR allocation will benefit all members, address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy. It will particularly help our most vulnerable countries struggling to cope with the impact of the COVID-19 crisis,” IMF Managing Director Kristalina Georgieva said. </p> <p> </p> <p> The general allocation of SDRs will become effective on August 23, 2021. The newly created SDRs will be credited to IMF member countries in proportion to their existing quotas in the Fund. </p> <p> </p> <p> About US$275 billion (about SDR 193 billion) of the new allocation will go to emerging markets and developing countries, including low-income countries. </p> <p> </p> <p> The quota for Belarus is 0.14%, which means Belarus may count on receiving an SDR equivalent of about $950 million. End </p>
2021-08-04
Primepress
IMF approves $650bn SDR allocation
MINSK, Aug 3 - PrimePress. The Board of Governors of the International Monetary Fund (IMF) has approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion on August 2, 2021, to boost global liquidity, the IMF said in a press-release.
“This is a historic decision – the largest SDR allocation in the history of the IMF and a shot in the arm for the global economy at a time of unprecedented crisis. The SDR allocation will benefit all members, address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy. It will particularly help our most vulnerable countries struggling to cope with the impact of the COVID-19 crisis,” IMF Managing Director Kristalina Georgieva said.
The general allocation of SDRs will become effective on August 23, 2021. The newly created SDRs will be credited to IMF member countries in proportion to their existing quotas in the Fund.
About US$275 billion (about SDR 193 billion) of the new allocation will go to emerging markets and developing countries, including low-income countries.
The quota for Belarus is 0.14%, which means Belarus may count on receiving an SDR equivalent of about $950 million. End