Can an IMF-Managed Trust for SDRs Deliver Inclusive & Sustainable Recoveries?
Special Drawing Rights (SDRs), the special reserve currency of the International Monetary Fund (IMF), have the potential to become a key mechanism for financing a just transition to climate-resilient economies and supporting the COVID-19 recovery. Following its historic allocation of $650 billion in SDRs in August 2021, the IMF has proposed a Resilience and Sustainability Trust (RST) to facilitate the re-channeling of these resources to vulnerable countries.
As a part of the 2022 IMF and World Bank Spring Meetings Civil Society Policy Forum, a panel co-hosted by the Boston University Global Development Policy Center will explore the Fund’s RST proposal, contrasting it with principles for fair SDR re-channeling set out in the civil society letter to the Group of 20 in September 2021. The session will assess the value of SDRs, including through potential future allocations, in contributing to financing climate action and pandemic preparedness via meeting ambitious nationally determined goals.
On Monday, April 11 at 10:00-11:30 AM EDT | 16:00-17:30 CEST, join the Boston University Global Development Policy Center and partners from civil society for an expert discussion on the RST and the future of SDR re-channeling.
Organizers: Boston University Global Development Center, African Forum and Network on Debt and Development, Bretton Woods Project, Caritas Africa, Catholic Agency for Overseas Development -UK, Center for Economic and Policy Research, European Network on Debt and Development, FEMNET, Financial Transparency Coalition, Global Policy Forum, GCAP, Initiative for Social and Economic Rights, International Trade Union Confederation, Jubilee Debt Campaign (UK), Jubilee USA Network, Latin American Network for Economic and Social Rights -LATINDADD, Oxfam International, Recourse, Social Justice in Global Development, Third World Network, WEED
• Sara Jane Ahmed: Finance Advisor to the V20, Member of Task Force on Climate, Development and the IMF
• Andres Arauz: Former Director General of Banking, Central Bank of Ecuador
• Father Charles Chilufya: Justice & Ecology Director, Jesuit Conference of Africa & Madagascar
• Arnaud Buissé: IMF Executive Director, France
• Chiara Mariotti (Moderator): Senior Policy and Advocacy Officer, Eurodad