Rethinking and Reforming the IMF

More than a year after the IMF general allocation of Special Drawing Rights (SDRs) and the G20 promise to recycle $100 billion of SDRs, how much has been achieved? And how will the recycled SDRs be used? 

The 2021 allocation of $650 billion of Special Drawing Rights (SDRs) was heralded by many as a needed shot in the arm to the global economy. While many countries have made good use of their part of the SDR pie, the hope that advanced economies would share their excess SDRs with more vulnerable coun...

The scale of IMF lending to low-income countries since 2020, carried out through the Poverty Reduction and Growth Trust (PRGT), was a bright spot in the otherwise lackluster multilateral response to the pandemic. But the rise in lending stretched thin the PRGT’s resources. The size of the resulting ...