Using the new IMF Special Drawing Rights for larger purposes: Guaranteeing ‘pandemic recovery bonds’
BY EUGENIO DÍAZ-BONILLA International Monetary Fund (IMF) members and staff must be congratulated for the much-needed allocation of Special Drawing Rights ($650 billion), issued in August, to help individual countries and the global economy overcome impacts of the COVID-19 pandemic. IMF Managing Director Kristalina Georgieva argued that it was crucial “that these SDRs are used as effectively as possible … and with