Guide to the special drawing rights of the International Monetary Fund and recommendations for change

Abstract

The purpose of the present guide is to assist African policymakers and other stakeholders in better understanding the basics of the special drawing rights issued by the International Monetary Fund (IMF), in order to make informed decisions about access to, and the use of, those assets. Following the latest general allocation of special drawing rights, which took place in August 2021, the guide is aimed at helping to achieve consensus on the way in which special drawing rights should be recycled from developed countries to developing and emerging countries, in particular those in Africa. The guide is, therefore, intended to be a useful resource for readers interested in exploring ways to use special drawing rights to support the mobilization of finance to achieve the Sustainable Development Goals and implement Agenda 2063, the Africa We Want, of the African Union.