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Open Letter to G20 Finance Ministers, Central Bank Governors and the IMF: CSOs call for issuance of more SDRs and fairer distribution

Due to the rules governing the distribution of Special Drawing Rights (SDRs), more than US$400 billion of last year’s US$ 650 billion issuance went to advanced economies who didn’t need them. A group of CSOs including ISER are therefore calling for a new allocation of SDRs with fairer distribution to help tackle the global crises; a speedy and sizable rechanneling of the earlier allocation from advanced to developing countries; and that substantial changes be made to the Resilience and Sustainability Trust, the IMF’s new instrument to channel SDRs.

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