Special Drawing Rights: Can the IMF’s reserve currency become a transformative financial resource?

An article by Chiara Mariotti, Eurodad

The COVID response SDRs unfair distribution based on IMF quotas did not reach the countries that needed it the most: of the US$650 billion, only about U$275 billion went to emerging and developing countries, and low-income countries received around U$21 billion. It is clear that a reform is needed. Instead, the discussion has progressed to focus primarily on how to create mechanisms to channel unused SDRs from rich to developing countries.