{
  "title": "Applications To Become Holders of SDRS",
  "publication": "Policy Papers, February 21, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055",
  "canonical": "https://www.imf.org/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055",
  "overlayPath": "/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055/index.md",
  "summary": "The International Monetary Fund (IMF) approved on February 8, 2023 the applications of the Caribbean Development Bank (CDB), the Development Bank of Latin America (known as Corporacion Andina de Fomento or CAF), the European Bank for Reconstruction and Development (EBRD), the European Investment Ban",
  "sections": [
    {
      "heading": "Approval decision",
      "content": "- The International Monetary Fund (IMF) approved on February 8, 2023 the applications of the following institutions to become prescribed holders of Special Drawing Rights (SDRs):\n  - Caribbean Development Bank (CDB)\n  - Development Bank of Latin America (known as Corporacion Andina de Fomento or CAF)\n  - European Bank for Reconstruction and Development (EBRD)\n  - European Investment Bank (EIB)\n  - Inter-American Development Bank (IADB)"
    },
    {
      "heading": "SDR definition and legal authorization",
      "content": "- The SDR is described as \"an international reserve asset created by the IMF to supplement the reserves of IMF members that participate in the SDR Department.\"\n- The IMF’s Articles of Agreement authorize the IMF to prescribe (i.e., approve) as holders of SDRs:\n  - (i) non-members,\n  - (ii) members that are not participants in the SDR Department;\n  - (iii) institutions that perform functions of a central bank for one or more IMF member countries; and\n  - (iv) other official entities (which all five entities approved on February 8 are)."
    },
    {
      "heading": "Rights and operations for prescribed holders",
      "content": "- Prescribed holders may:\n  - acquire SDRs,\n  - hold SDRs, and\n  - use SDRs in transactions by agreement and in operations."
    },
    {
      "heading": "Outcome and key counts",
      "content": "- Approval of the five institutions on February 8, 2023 brings the number of prescribed holders to twenty.\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055/index.md)",
    "[Structured JSON version](/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055/index.json)",
    "[Bundle manifest](/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055/bundle-manifest.json)",
    "Published: February 21, 2023",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9798400230752.007",
    "The International Monetary Fund (IMF) approved on February 8, 2023 the applications of the following institutions to become prescribed holders of Special Drawing Rights (SDRs):",
    "The SDR is described as \"an international reserve asset created by the IMF to supplement the reserves of IMF members that participate in the SDR Department.\"",
    "The IMF’s Articles of Agreement authorize the IMF to prescribe (i.e., approve) as holders of SDRs:",
    "Prescribed holders may:",
    "Approval of the five institutions on February 8, 2023 brings the number of prescribed holders to twenty.",
    "**Policy Paper**"
  ],
  "related": [
    {
      "title": "Policy Paper",
      "role": "paper",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/pp/2023/english/ppea2023002.pdf",
      "summary": {
        "path": "/-/media/files/publications/pp/2023/english/ppea2023002.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/pp/2023/english/ppea2023002.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055/index.md",
    "json": "/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055/index.json",
    "bundleManifest": "/en/publications/policy-papers/issues/2023/02/21/applications-to-become-holders-of-sdrs-530055/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-19T01:42:32.904Z"
}