AfriCatalyst recently met with officials and representatives from several civil society organizations in Senegal and Ghana to discuss issues pertaining to the reallocation of Special Drawing Rights (SDRs), with a focus on Africa.<\/p>\n\n\n\n
The SDR is an international reserve asset created by the IMF in order to supplement the reserves of member countries. Its value is based on a basket of 5 currencies: U.S. Dollar, Euro, Chinese Yuan, Japanese Yen and Pound Sterling. SDRs are allocated to countries in proportion to their quota shares at the IMF.<\/p>\n\n\n\n
In August 2021, the Board of Governors of the IMF approved the largest SDR allocation in the history of the institution, equivalent to US $ 650 billion to boost global economy. Subsequently, the G20 endorsed a plan to reallocate $100 billion of new SDRs to low-income countries (LICs), small island developing states and the most vulnerable middle-income countries.<\/p>\n\n\n\n
AfriCatalyst believes that it is essential for domestic stakeholders in African countries, within and outside the public sector, to develop a clear position on how best to use these resources to meet Africa’s priority needs, while ensuring transparency and accountability.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"
AfriCatalyst recently met with officials and representatives from several civil society organizations in Senegal and Ghana to discuss issues pertaining to the reallocation of Special Drawing Rights (SDRs), with a…<\/p>\n","protected":false},"author":1,"featured_media":342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":"","_tec_slr_enabled":"","_tec_slr_layout":""},"categories":[11,26],"tags":[],"ppma_author":[98],"class_list":["post-67","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized-en","category-news"],"yoast_head":"\n