IMF To Issue $250 Billion in Special Drawing Rights Currency → Washingtons Blog
IMF To Issue $250 Billion in Special Drawing Rights Currency - Washingtons Blog

Thursday, April 2, 2009

IMF To Issue $250 Billion in Special Drawing Rights Currency

Today, the G20:

Agreed to an allocation of $250 billion in Special Drawing Rights, the artificial currency that the IMF uses to settle accounts among its member nations. The move is akin to a central bank such as the Federal Reserve effectively creating money out of thin air, except it’s on a global scale.
It will be interesting to see whether or not special drawing rights will take on further importance in the future.

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