Guidance Note for Fund Staff on the Treatment and Use of SDR Allocations

Download or read book Guidance Note for Fund Staff on the Treatment and Use of SDR Allocations written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-08-28 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Against the backdrop of the global financial crisis, the IMF has decided to implement a US$250 billion general allocation of special drawing rights (SDRs). In addition, the Fourth Amendment of the Fund’s Articles of Agreement has recently become effective, and will make available to SDR Department participants a special allocation of up to an additional SDR 21.5 billion (US$33 billion). Nearly US$115 billion of these combined allocations will go to emerging market and developing countries, including about US$20 billion to low-income countries (LICs), thereby providing an important boost to the reserves of countries with the greatest needs.