Friday, 30 July 2021
8:30-10:00am Washington DC Time/ 1:30-3:00pm London Time
2:30-4:00pm Paris Time
This live event will be broadcasted in English and French. Register above to receive a reminder about the webcast before the event. The video will stream and remain available on the page here. Close-captioned-enabled video will be posted following the conclusion of the event.
At the Paris Summit on Financing African Economies held last May, the IMF announced the availability of US$33 billion in new SDRs for African countries (out of an overall issuance of US$650 billion in new SDRs for all its members). While this amount will help these countries overcome the consequences of a worsening health and economic crisis on the continent, it is not enough. Many have called on rich countries to consider reallocating part of their new SDRs to the poorest and most vulnerable countries. At the Summit, the Head of States also committed to increase considerably the amount of SDR allocation finally reaching African countries.
This idea, if implemented, requires consideration of three issues: 1. Through which channel should these SDRs be distributed? 2. What should they finance? 3. On what criteria would the reallocations be made?
Co-hosted by the Center for Global Development and the Foundation for Studies and Research on International Development, this panel discussion will focus on financing African economies through the issuance and allocation of IMF’s SDRs (Special Drawing Rights) and examine opportunities and challenges ahead for an effective reallocation of SDRs to help vulnerable countries. The event will feature subject expert economists and policymakers with experience on IMF financing tools and SDRs.