IMF is requesting 650 Billion USD SDR [mostly will come from USA]

“I am very encouraged by initial discussions on a possible SDR allocation of US$650 billion. By addressing the long-term global need for reserve assets, a new SDR allocation would benefit all our member countries and support the global recovery from the COVID-19 crisis. It would also be a powerful signal of the IMF membership’s determination to do everything possible to overcome the worst recession since the Great Depression.

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“To this end, Executive Directors conveyed broad support among Fund members for IMF staff to formulate a proposal for a new SDR allocation equivalent to US$650 billion to provide additional liquidity to the global economic system by supplementing the reserve assets of the Fund’s 190 member countries.

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They just trying to trash USD.

www.imf.org/en/News/Articles/2021/03/23/pr2177-imf-execdir-discuss-new-sdr-allocation-us-650b-boost-reserves-help-global-recovery-covid19

 

 

h/t BrownTiger

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