Tag Archives | Special Drawing Rights

The IMF’s announcement of $650 billion in Special Drawing Rights: advertising effect

Originally published: CADTM - Committee for the Abolition of Illegitimate Debt on September 8, 2021 by Milan Rivié and Éric Toussaint interviewed by the CADTM (more by CADTM - Committee for the Abolition of Illegitimate Debt) | (Posted Sep 11, 2021)

The 190 countries that are members of the IMF are entitled to allowances in strong currencies which they do not have to pay back. This device is called Special Drawing Rights. To this we must add loans that the IMF can grant to a country calling for help. Loans must be repaid with interest and are tied to conditions that reinforce neoliberal policies.