IMF governing board signs off on ‘historic’ SDR allocation
The International Monetary Fund’s top governance body has approved a $650 billion allocation of special drawing rights (SDRs), clearing the way for the “historic” liquidity injection to go ahead this month.
The fund’s board of governors approved the “general allocation” of around SDR456 billion at a meeting on August 2. The vote marked the final stage of a process begun in 2020, but which only really gained momentum in March when the US swung in favour of the plan.
“This is a historic decision
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