Yellen backs proposal for SDR issuance

Janet Yellen
Janet Yellen
Photo: US Federal Reserve

Janet Yellen backed plans for a “general allocation” of Special Drawing Rights (SDRs), shortly before the G20 called on the International Monetary Fund to develop proposals to that effect.

The US Treasury secretary wrote to the G20 on February 25 to offer her backing to an issuance of the international reserve asset, which is administered by the IMF.

A day later, at the first meeting of finance ministers and central bank governors under the Italian G20 presidency, members requested that the

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