IMF’s $650bn SDR allocation takes effect Aug 23, Belarus to get $926m
<p> MINSK, Aug 23 - PrimePress. The general allocation of Special Drawing Rights (SDRs) of the International Monetary Fund (IMF) in the amount of $650 billion took effect on 23 Aug 2021, the IMF said in a press-release posted on its official web site. </p> <p> </p> <p> As previously reported, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion on August 2, 2021, to boost global liquidity, and also in order to help the most vulnerable countries struggling to cope with the impact of the COVID-19 crisis. The newly created SDRs will be credited to IMF member countries in proportion to their existing quotas in the Fund. </p> <p> </p> <p> The quota for Belarus is 0.14%, which means Belarus may count on receiving an SDR equivalent of about $926 million. </p> <p> </p> <p> IMF Managing Director Kristalina Georgieva said: “The largest allocation of Special Drawing Rights (SDRs) in history—about US$650 billion—comes into effect today. The allocation is a significant shot in the arm for the world and, if used wisely, a unique opportunity to combat this unprecedented crisis.” </p> <p> </p> <p> “SDRs are being distributed to countries in proportion to their quota shares in the IMF. This means about US$275 billion is going to emerging and developing countries, of which low-income countries will receive about US$21 billion – equivalent to as much as 6 percent of GDP in some cases,” said Georgieva. </p> <p> </p> <p> According to the IMF, out of 190 member countries, only three - Afghanistan, Venezuela and Myanmar - will not be able to access distribution funds because their de facto governments are not recognised by the international community. End </p>
2021-08-24
Primepress
IMF’s $650bn SDR allocation takes effect Aug 23, Belarus to get $926m
MINSK, Aug 23 - PrimePress. The general allocation of Special Drawing Rights (SDRs) of the International Monetary Fund (IMF) in the amount of $650 billion took effect on 23 Aug 2021, the IMF said in a press-release posted on its official web site.
As previously reported, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion on August 2, 2021, to boost global liquidity, and also in order to help the most vulnerable countries struggling to cope with the impact of the COVID-19 crisis. The newly created SDRs will be credited to IMF member countries in proportion to their existing quotas in the Fund.
The quota for Belarus is 0.14%, which means Belarus may count on receiving an SDR equivalent of about $926 million.
IMF Managing Director Kristalina Georgieva said: “The largest allocation of Special Drawing Rights (SDRs) in history—about US$650 billion—comes into effect today. The allocation is a significant shot in the arm for the world and, if used wisely, a unique opportunity to combat this unprecedented crisis.”
“SDRs are being distributed to countries in proportion to their quota shares in the IMF. This means about US$275 billion is going to emerging and developing countries, of which low-income countries will receive about US$21 billion – equivalent to as much as 6 percent of GDP in some cases,” said Georgieva.
According to the IMF, out of 190 member countries, only three - Afghanistan, Venezuela and Myanmar - will not be able to access distribution funds because their de facto governments are not recognised by the international community. End