Bahamas SDR law gets parliamentary approval

Central Bank of the Bahamas
Central Bank of the Bahamas
Photo: Mikael Latreille

The lower house of the Bahamian parliament approved a law on April 24 to guarantee the government’s power to use special drawing rights (SDRs). The government has already taken more than $200 million in SDRs from the central bank, and the opposition charges it did so illegally.

The International Monetary Fund issues SDRs to member states periodically. These are hard-currency assets, based on a basket of five reserve currencies, that members can use as reserves or in fiscal operations.

In 2021

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