{"id":474,"date":"2023-10-17T08:49:25","date_gmt":"2023-10-17T08:49:25","guid":{"rendered":"https:\/\/africatalyst.com\/?p=474"},"modified":"2024-02-20T11:56:57","modified_gmt":"2024-02-20T11:56:57","slug":"rechanneling-special-drawing-rights-through-multilateral-development-banks","status":"publish","type":"post","link":"https:\/\/africatalyst.com\/credit-ratings\/?p=474","title":{"rendered":"RECHANNELING Special Drawing Rights Through Multilateral Development Banks"},"content":{"rendered":"\n
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AfriCatalyst, in partnership with The Centre for Global Development (CGD) to host a hybrid conference on the use of Special Drawing Rights (SDRs) to accelerate economic transformation in Africa.<\/p>\n\n\n\n

AfriCatalyst, a leading pan-African development consultancy firm based in Dakar, Senegal, in partnership with The Center for Global Development (CGD), a nonprofit think tank based in Washington, DC, is organizing a hybrid event to discuss and share expertise on the role of SDRs in spurring Africa\u2019s economic recovery.<\/p>\n\n\n\n

BACKGROUND<\/strong><\/p>\n\n\n\n

In August 2021, the IMF board approved the largest general allocation of IMF\u2019s SDRs in the IMF history, amounting to $650 billion, of which African countries received a total of $33 billion in line with their quota shares.<\/p>\n\n\n\n

The G20 members agreed on the importance of reallocating $100 billion worth of SDRs to low-income countries (LICs), small island developing states and the most vulnerable middle-income countries. Against this backdrop, different mechanisms have been proposed with an aim of rechanneling SDRs to finance Africa\u2019s recovery.<\/p>\n\n\n\n

The \u201cRechanneling SDRs to accelerate Africa\u2019s Development\u201d <\/strong>event seeks to further discussion at a critical juncture in Africa\u2019s economic recovery following multiple shocks including COVID-19 and climate and food crises. This event will catalyze the conversation on innovative financing options for African countries, notably through re-channeling SDRs to vulnerable African economies to finance economic recovery.<\/p>\n\n\n\n

WHO:<\/strong><\/p>\n\n\n\n

The panel of experts for this event include:<\/strong><\/p>\n\n\n\n