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IMF Plans to Boost Global Liquidity after Approval of Record $650 Billion SDR

August 3, 2021 by Forex Winner Leave a Comment

IMF Plans to Boost Global Liquidity after Approval of Record $650 Billion SDR

Source: International Monetary Fund

The International Monetary Fund Governors has allocated a record $650 billion to Special Drawing Rights to boost global economies following Covid-19 devastations.

  • The SDR allocation is expected to address the global need for reserves, increase confidence, and boost resilience and stability across the globe.
  • About $275 billion of the SDR allocation will go to the emerging and developing countries. 
  • The IMF is engaging actively with its members to find options for voluntary channeling of SDRs to poorer countries to boost recovery.
  • The global body is also considering alternative options to help vulnerable countries to boost recovery in the medium term.
  • The SDRs allocation is the largest by the IMF and will become effective on August 23 this year.

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