Enhancing International Monetary Stability--A Role for the SDR?
Policy Papers, January 7, 2011
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- Enhancing International Monetary Stability--A Role for the SDR?
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Bibliographic details
- Published: January 7, 2011
- Series: Policy Papers
Summary
- The SDR has enjoyed renewed attention lately in the context of debates on international monetary reform.
- The term SDR has been used to refer to three different concepts; all three are discussed in this paper.
- Publication date: January 7, 2011.
Three concepts of the SDR (as described in the paper)
- (i) A composite reserve asset created in 1969: the “official SDR” as defined in the Fund’s Articles.
- (ii) A potential new class of reserve assets: tradable SDR-denominated securities issued by the Fund or an investment vehicle backed by a subset of the Fund’s membership.
- (iii) A unit of account, which could be used to:
- price internationally traded assets (e.g., sovereign bonds) and goods (e.g., commodities),
- peg currencies,
- report balance of payments data.
Subject focus and analytical themes
- Basket of currencies composition
- Exchange rate stability
- Exchange rate variability
- International monetary system
- Reserve assets
- Reserves accumulation
- SDR role
- SDR valuation basket
- SDRs
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Source: Enhancing International Monetary Stability--A Role for the SDR?, International Monetary Fund, January 7, 2011.
Content in this bundle
- Enhancing International Monetary Stability—A Role for the SDR?; IMF Policy Paper; January 7, 2011