{
  "title": "2021 Special Drawing Rights Allocation—Ex-Post Assessment Report",
  "publication": "Policy Papers, August 29, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2023/08/28/2021-special-drawing-rights-allocation-ex-post-assessment-report-538583",
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  "summary": "This report follows up on the impact of the historic $650 billion 2021 SDR allocation on the global economy, documenting IMF members' use of the allocation and assessing its economic effects.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The report follows up on the impact of the historic $650 billion 2021 SDR allocation on the global economy, documenting IMF members' use of the allocation and assessing its economic effects.\n- The report finds that the allocation was beneficial for the global economy, helping meet the long-term global need for reserves and supporting market confidence."
    },
    {
      "heading": "Key findings",
      "content": "- The allocation was beneficial for the global economy.\n- It helped meet the long-term global need for reserves.\n- It supported market confidence.\n- Members’ use of the allocation was mostly in line with Fund advice.\n- Voluntary SDR channeling from economically stronger to more vulnerable members helped amplify the benefits of the allocation.\n- The transparency and accountability of SDR holdings and use has been broadly appropriate, although some gaps remain."
    },
    {
      "heading": "Members’ use of the allocation",
      "content": "- Members used the allocation mostly to increase international reserve buffers.\n- Some emerging market and developing countries also used the allocation to meet fiscal and external financing needs."
    },
    {
      "heading": "Costs, obligations, and capacity",
      "content": "- SDR interest costs have increased.\n- Members’ capacity to service SDR obligations remains generally adequate."
    },
    {
      "heading": "Governance, transparency, and channeling",
      "content": "- Members’ use was mostly consistent with Fund advice.\n- Transparency and accountability of SDR holdings and use have been broadly appropriate, but gaps remain.\n- Voluntary SDR channeling from economically stronger to more vulnerable members amplified the allocation’s benefits.\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- 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/2023/08/28/2021-special-drawing-rights-allocation-ex-post-assessment-report-538583"
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    "Published: August 29, 2023",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9798400254574.007",
    "The report follows up on the impact of the historic $650 billion 2021 SDR allocation on the global economy, documenting IMF members' use of the allocation and assessing its economic effects.",
    "The report finds that the allocation was beneficial for the global economy, helping meet the long-term global need for reserves and supporting market confidence.",
    "The allocation was beneficial for the global economy.",
    "It helped meet the long-term global need for reserves.",
    "It supported market confidence.",
    "Members’ use of the allocation was mostly in line with Fund advice.",
    "Voluntary SDR channeling from economically stronger to more vulnerable members helped amplify the benefits of the allocation.",
    "The transparency and accountability of SDR holdings and use has been broadly appropriate, although some gaps remain.",
    "Members used the allocation mostly to increase international reserve buffers.",
    "Some emerging market and developing countries also used the allocation to meet fiscal and external financing needs.",
    "SDR interest costs have increased.",
    "Members’ capacity to service SDR obligations remains generally adequate.",
    "Members’ use was mostly consistent with Fund advice.",
    "Transparency and accountability of SDR holdings and use have been broadly appropriate, but gaps remain.",
    "Voluntary SDR channeling from economically stronger to more vulnerable members amplified the allocation’s benefits.",
    "**Policy Paper**",
    "**Policy Paper**"
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