The Reallocation of Special Drawing Rights to the Benefit of the African Continent: a Proposal for Euro Area Countries

Annamaria Viterbo ()
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Annamaria Viterbo: Associate Professor of International Law, PhD - Department of Law, University of Turin, Italy

No 598, Research Papers from Fondazione Centro Studi sul Federalismo

Abstract: The paper describes the main features of the Special Drawing Rights (SDRs), the international reserve asset issued by the International Monetary Fund (IMF). After the historic allocation of SDRs equivalent to US $650 billion in August 2021, it has been argued that the wealthiest economies should ‘redirect’ (or ‘re-channel’) at least some of their new SDRs to the benefit of the most vulnerable countries. The paper discusses how to overcome current legal challenges to facilitate the reallocation of the SDRs held by Euro area countries to an ambitious Next Generation Africa plan.

Keywords: Special Drawing Rights; SDRs; International Monetary Fund; Africa; Europe (search for similar items in EconPapers)
JEL-codes: E43 E58 F33 F38 F41 F42 G15 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2022-02
New Economics Papers: this item is included in nep-mon
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https://www.csfederalismo.it/en/component/jdownloa ... tid=2&m=0&Itemid=216 Final version, 2022 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:azz:rpaper:598

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