SDR Distribution, Interest Rates and Aid Flows

Graham Bird

Chapter 8 in Managing Global Money, 1988, pp 124-133 from Palgrave Macmillan

Abstract: Abstract Now that the rate of interest on Special Drawing Rights (SDRs) on the International Monetary Fund (IMF) has been increased to a market-related level, what is the significance for developing countries of a link between the creation of SDRs and the provision of development finance, as has been urged in many quarters for a number of years? In addressing that question, this chapter challenges, in particular, any tendency to assume that as a result of the increase the establishment of a ‘link’ — the shorthand expression that will be used throughout — would be of little relevance to developing countries because of the supposed zero, or near zero, grant element associated with the use of SDRs.

Keywords: Interest Rate; International Monetary Fund; Optimum Stock; Distribution Formula; Special Draw (search for similar items in EconPapers)
Date: 1988
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DOI: 10.1007/978-1-349-09588-9_8

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