IMF allows five regional banks to hold SDRs

Development banks in Europe and the Americas are now “prescribed holders”

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Photo: Flickr/freeimage4life

The International Monetary Fund’s executive board has authorised five regional development banks – the Caribbean Development Bank, the Development Bank of Latin America, the European Bank for Reconstruction and Development, the European Investment Bank and the Inter-American Development Bank – to hold its special drawing rights (SDRs).

SDRs drawing rights are interest-bearing “international reserve assets”. Their value is indexed to a basket of five reserve currencies and they can be exchanged

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