## The Case for A General Allocation Of SDRs during the Thirteenth Basic Period

_Policy Papers, July 2, 2026_

## Source details

**Canonical URL:** [The Case for A General Allocation Of SDRs during the Thirteenth Basic Period](https://www.imf.org/en/publications/policy-papers/issues/2026/07/02/the-case-for-a-general-allocation-of-sdrs-during-the-thirteenth-basic-period-577460)

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## Bibliographic details
- Published: July 2, 2026
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798229051156.007

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### Executive summary and Managing Director decision
- On June 15, 2026, the Managing Director of the International Monetary Fund (IMF) informed the Executive Board of the IMF regarding a general allocation of Special Drawing Rights (SDRs).
- The Managing Director concluded that she would not plan to make, by June 30 of this year, a proposal for the Thirteenth Basic Period (2027-2031), as there is neither a clear economic case nor the necessary support for a new allocation at present.
- The Managing Director’s decision does not preclude her from making a proposal, at her initiative or at the request of the Board of Governors or the Executive Board, at any time during the Thirteenth Basic Period.
- On June 26, 2026, the Managing Director reported her position to the Board of Governors of the IMF.

### Key findings and context
- No clear economic case was identified for a general allocation of SDRs for the Thirteenth Basic Period (2027-2031).
- There was not the necessary support for a new allocation at the time of the Managing Director’s June 15, 2026 communication to the Executive Board.
- The window for proposing an allocation by June 30, 2026, was not pursued; a proposal could still be made later during the Thirteenth Basic Period if initiated by the Managing Director or requested by the Board of Governors or the Executive Board.

### Subject areas and keywords
- Subject: Asset and liability management; Capital markets; Central banks; Emerging and frontier financial markets; Financial markets; International capital markets; International liquidity; International reserves; Reserve assets; Sovereign debt restructuring
- Keywords: allocation; article XVIII; basic period; Capital markets; Emerging and frontier financial markets; executive board concurrence; Global; IMF staff; International capital markets; International liquidity; International reserves; Middle East; Reserve assets; SDR allocation; SDRs; SDRS relative; Sovereign debt restructuring

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2026/07/02/the-case-for-a-general-allocation-of-sdrs-during-the-thirteenth-basic-period-577460_