SDR a better global currency: IMF's Lipsky

A senior International Monetary Fund (IMF) official has said that its Special Drawing Right (SDR) is a viable global reserve currency with many benefits.

John Lipsky, the first deputy managing director of the IMF, said on Friday at the St Petersburg Economic Forum that there were "many, many attractions in the long run" to SDRs replacing the dollar as the global reserve currency. He said however, that it was not a quick, short or easy decision. He said that it would be "quite revolutionary."

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