Promoting Equity and Accountability in IMF Special Drawing Rights

This event is co-sponsored by AFRODAD, the Center for Global Development, the Bill and Melinda Gates Foundation, the International Budget Partnership, Latindadd and the Open Society Foundation. It features CGD Co-Director of Development Finance and Senior Policy Fellow, Mark Plant.

On August 23, 2021, the IMF allocated a historic $650 billion worth of SDRs to its member states, to help countries tackle the economic impact from COVID-19.

Although SDRs allocations in many countries will be held by central banks, they have the potential to provide governments with fiscal flexibility and support priority spending in low- and middle-income countries. The decisions on how countries use their SDRs are too important to be made opaquely and without public input, especially when inequality and perceived corruption have already undermined public trust in many governments.