IMF governing board signs off on ‘historic’ SDR allocation
Decision paves way for $650 billion worldwide infusion of liquidity later this month
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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
IMF approves $259m loan to support PNG’s climate resilience
Fund also disburses $125 million to support economic reforms in Papua New Guinea
FSB urges non-banks to improve liquidity risk management
Report lists eight recommendations on how funds can answer margin and collateral calls
BoE’s non-bank liquidity facility to open for applications in 2025
Other central banks have shown “lots of interest”, says deputy governor
BIS study examines ways to improve catastrophe insurance
Financial Stability Institute says “parametric” policies can help businesses weather the storm
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
South Korea pledges ‘unlimited liquidity’ to stabilise markets
Authorities ready to support stock, bond, short-term funding and FX markets amid political turmoil
BoE to reduce frequency of stress tests on major UK banks
Large-scale exercise will now be conducted every other year instead of every year
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
CBSL chief returned from retirement to secure structural reforms, recapitalisation and financial resilience