With the allocation of $650 billion of IMF special drawing rights (SDRs), the global economy has, in the words of the IMF’s Managing Director, been given a financial shot in the arm. One question that naturally follows is whether the injection has done any good?
After more than a year of grappling with the economic effects of the COVID-19 pandemic, many middle-income countries (MICs) will continue to experience health and economic dislocation for some time to come. While much of the global financial community’s attention has focused on supporting low-income...
With the recent allocation of special drawing rights (SDRs)—a reserve asset issued by the IMF—to help countries weather the economic effects of the pandemic, the international discussion has shifted to ways to rechannel a portion of the SDRs that were allocated to high-income economies. The focus ha...