IMF announces new 250 billion U.S. dollar special drawing rights allocation draft

The International Monetary Fund 20th issued a 250 billion dollar special Drawing rights (SDR) allocation, in which the U.S. new special drawing rights 42.6 billion U.S. dollars, China added 9 billion U.S. dollars. Under the draft, emerging markets and developing countries will add 100 billion of billions of dollars in special drawing rights, of which low-income countries will be given 18 billion of dollars in special drawing rights. In particular, China added 9 billion U.S. dollars, Russia added 6.6 billion U.S. dollars, India added 4.5 billion U.S. dollars, Brazil added about 3 billion U.S. dollars.　　In the developed world, the United States will add $42.6 billion trillion in special drawing rights, with Japan adding 15 billion dollars.　　In a statement issued on the day, Dominique, the managing director of the International Monetary Fund, said the allocation of SDRs was an important part of the organization's response to the crisis, which in the short term helped member countries to replenish their reserve assets to cope with the crisis at a lower cost and, in the long run, help member countries adjust The allocation is the largest ever since the creation of SDRs.　　The International Monetary Fund had only two general allocations of SDRs, with a cumulative allocation of about $33 billion trillion.　　In accordance with the relevant provisions of the International Monetary Fund Agreement, this draft special drawing rights allocation will be reported to the International Monetary Fund Council to vote, with 85% of the Member States to enter into force. SDRs are an international reserve asset created by the International Monetary Fund in 1969 to compensate for the inadequacy of official reserves in Member States. In the event of a deficit in the balance of payments of Member States, special drawing rights can be sold to pay deficits or repay IMF loans.