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    Home » IMF’s Historic Approval of $650 Billion SDR Allocation Expands Lending Capacity
    Forex News Updated:August 16, 2021

    IMF’s Historic Approval of $650 Billion SDR Allocation Expands Lending Capacity

    August 3, 20211 Min Read
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    IMF’s Board of Governors approves the general allocation of Special Drawing Rights (SDRs) of $650 billion to boost global liquidity.

    • The SDR allocation will benefit all members to address long-term global needs for reserves, building confidence, and promoting stability and resilience.
    • An estimated $275 billion of the new allocation will go towards emerging markets and developing countries, including low-income economies.
    • The IMF has encouraged members with strong external positions to voluntarily channel part of their SDRs to increase lending for low-income countries.
    • Concessional support through the Poverty Reduction and Growth Trust (PRGT) is interest-free.

    The IMF is looking for other options to help poor and more vulnerable nations in their recovery efforts. A new Resilience and Sustainability Trust might improve resilience and sustainable growth in the medium-term period.

    EUR USD up +0.09%

    Source: IMF

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