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SDR
- special drawing rights.
Example Sentences
Patent and Trademark Office for “Sunday Red” or “SDR.”
But Yellen, who manages the United States' controlling share in the Fund, rejected the idea of a new SDR allocation as inappropriate, saying that more existing SDR reserves needed to be loaned to poorer countries first.
The United States has not contributed any of its $101.5 billion share of the SDR allocation to the trust funds, a move that would require approval from Congress.
The IMF in August 2021 created and issued $650 billion in SDR assets to member countries to aid their recovery from the COVID-19 pandemic, but poor countries are clamoring for more funds due to high inflation and a mounting debt crisis.
The groups' plea for a second major SDR allocation in just over a year comes as global finance officials prepare to meet in Washington for the annual meetings of the IMF and World Bank.
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