Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/52780
Authors: 
Aryeetey, Ernest
Year of Publication: 
2004
Series/Report no.: 
WIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2004/03
Abstract: 
Efforts to realize the issue of development-focused Special Drawing Rights (SDR) by the International Monetary Fund (IMF) have been on-going for many years. Recently, however, the campaign first gained a new momentum immediately after the Asian financial crises with the new liquidity problems of developing nations following the collapse of private capital markets. Currently the search for financing options towards the achievement of the Millennium Development Goals drives the interest in development-focused SDRs. Extending the uses to which SDR can be put is derived from the growing demands on the international financial system to respond to the development finance needs of poor nations. Apart from the need to provide emergency funds in times of crises and the whole area of crisis prevention, increasingly the facilitation of development in poor countries and assistance to make the best policy decisions is considered crucial.
Subjects: 
Special Drawing Rights
international monetary arrangements
global public goods
global development finance
innovative finance
Millennium Development Goals
JEL: 
F02
F33
F34
F35
O16
O19
O50
P16
H41
Document Type: 
Working Paper

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