An exterior view of the building of the International Monetary Fund , with the IMG logo, is seen on March 27, 2020 in Washington, DC. — AFP pic
SDRs, based on dollars, euro, yen, sterling and yuan, are the IMF’s official unit of exchange. Member countries hold them at the Fund in proportion to their shareholdings. An SDR expansion has attracted some celebrity advocates, such as investor George Soros and U2 lead singer Bono’s ONE anti-poverty organization, along with trade unions and faith-based groups.
The opposition comes at a time when US tension with China is running high over the causes of the virus and a long-running trade war. US-Iran tension nearly boiled over into armed conflict in January.
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