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“IMF Announces USD 650 Billion SDR Allocation” by David Harkness – 7.17.21

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Entry Submitted by David Harkness at 7:27 PM EDT on July 17, 2021 On the 8 July 2021 the IMF announced the allocation of USD 650Billon to Special Drawing Rights (SDR)  the biggest allocation in the history of the IMF. The Special Drawing Right (SDR) is an interest-bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. The SDR is based on a basket of international currencies comprising the U.S. dollar, Japanese yen, euro, pound sterling and Chinese Renminbi. It is not a currency, nor a claim on the IMF, but is…

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