Bridging the solidarity gap: Bringing forth the best from financial instruments

At a time of unprecedented crisis, the IMF approved last August the allocation of Special Drawing Rights (SDRs) equivalent to $650 billion, the largest in its history, aimed at boosting the resilience and stability of the global economy. Although a sizeable part of the allocation was directed to developing countries, much remains to be done to support their pandemic recovery and alleviate their debt burden. This session will explore how this extraordinary decision can help vulnerable countries build growth and resilience and the existing options to boost their recovery efforts, including voluntary channeling of SDRs from wealthier countries.