Where are the commitments of rich countries? – Young Africa

“I will be very clear, the United Kingdom would like to transfer part of its Special Drawing Rights (SDR) to Africa through the African Development Bank”, announced Vicky Ford, British Minister for Africa, Americas Latin and the Caribbean, at the 2022 Annual Meeting of the African Development Bank Group (AfDB) in Accra in May.

A statement repeated on 27 June, reminding that many other developed countries have also indicated that they want to transfer their SDRs to African countries. Recently, AfDB President Akinwumi Adesina also stressed that he is “in talks with Canada and France” on the subject. Still nothing happened in spite of all these announcements. moment been realized.

for reading

African debt: what have the IMF’s billions been used for?

As a reminder, the SDR is the international reserve asset created in 1969 by which the IMF supplements the official reserves of its member states without creating additional debt. The value of the SDR is determined in relation to a basket of currencies, the composition of which is reviewed every five years.

less than half of the amount received by them United States of america

See also  From 9 June, vaccinated Europeans are exempted from PCR tests to enter France

You May Also Like

About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

Leave a Reply

Your email address will not be published.