AfDB, IDB welcome IMF’s approval of SDRs for hybrid capital instruments

The African Development Bank Group and the Inter-American Development Bank , yesterday, welcomed the announcement by the International Monetary Fund’s Executive Board approving hybrid capital as an eligible instrument for channeling of Special Drawing Rights .

At a time of multiple crises and scarce resources for development, this is a unique value proposition for governments everywhere. The next step is to secure at least five investors to channel their SDRs through Multilateral Development Banks. “With the new SDR-based hybrid-capital instrument, we have a cost-efficient way to finance much-needed sustainable development projects to boost climate resilience, reduce poverty and inequality, and lay the foundation for more inclusive growth in many of our countries.”

The IMF’s most recent general allocation of SDRs to its members was in 2021, when the equivalent of $650 billion was issued to help countries respond to the COVID-19 pandemic.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.

IDB IMF SDR-Hybrid-Capital

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