IMF launches vehicle for SDR transfers
Fund’s aim for $45 billion in transfers seems to fall short of earlier ambitions
The International Monetary Fund has launched a long-awaited financing vehicle that is designed to allow richer nations to transfer resources to poorer ones.
However, the size of the new scheme appears to fall short of the IMF’s earlier ambitions.
The Resilience and Sustainability Trust (RST) has been in development since mid-2021, when the IMF agreed a general allocation of special drawing rights (SDRs) to its members.
SDRs were allocated according to a country’s voting share in the IMF
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