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Building Forward Together Fairer Using SDRs

by AFRODAD
Building Forward Together Fairer Using SDRs

Liquidity is vital for spurring growth and development for developing countries especially during crises for instance the unprecedented economic and health crises from the COVID-19 pandemic. The IMF, allocates Special Drawing Rights (SDRs), an international asset reserve that can be used to pay the IMF, exchanged with hard currency or be donated among member states. They can therefore be used by governments to stabilize their currencies, bolster their reserves or for social protection purposes which are overly important during crises.

Data Blog: Tracking The Use of SDRs in Africa

by AFRODAD

Data Blog: Tracking The Use of SDRs in Africa

The IMF allocated Special Drawing Rights (SDRS) equivalent to about US$650 billion in August 2021. This allocation is meant to benefit all members, addressing the long-term global need for reserves and fomenting the resilience and stability of global economy. The allocation is made in proportion to their quotas in the fund. Africa only received 5% of the allocation amounting to US$ 33billion.

Fiscal Responses to COVID-19 in Africa

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