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Government Say Country Will Receive $4.4B of SDRs From IMF

ARGENTINA

(Bloomberg) Argentina to receive $4.4 billion of special drawing rights as part of support from IMF Executive Directors for a global $650 billion SDR allocation, according to an economy ministry statement.

  • International Monetary Fund Managing Director Kristalina Georgieva tweeted Tuesday that Executive Directors "conveyed broad support for considering an SDR allocation of ~$650 billion!"
    • The funds are a "key step to ensure all members, particularly those hardest hit in the crisis, have higher reserve buffers and more capacity to help their people and support recovery"

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