With much of the world still mired in recession, the IMF took action to bolster its members’ reserves through an allocation of SDRs, or Special Drawing Rights. The allocation, equivalent to 250 billion USD was made on August 28 and will be followed by an additional, albeit much smaller, allocation of 33 billion on September 9.
With the two allocations totaling roughly 283 billion, the outstanding stock of SDRs would increase nearly ten-fold to total about 316 billion.
Continue reading IMF Injects 283 Billion SDR to Boost World Economy
