Trade & Jobs: The Brazilian Connection

Worldview ◽  
1984 ◽  
Vol 27 (12) ◽  
pp. 9-11
Author(s):  
Marc Levinson
Keyword(s):  
At Risk ◽  
Latin America ◽  
International Monetary Fund ◽  
Public Support ◽  
Special Drawing ◽  
Private Matter ◽  
Special Drawing Rights

"Borrowers should pay their debts." Most Americans would agree with this maxim and would probably apply it to debtor countries as well. There is little sympathy in evidence for the debtors, and even less for the money-center banks whose capital is badly at risk in Latin America. The discussions of such esoterica as International Monetary Fund loans, special drawing rights, and debt refinancing bring yawns. Undoubtedly, the Reagan administration's view that debt is a private matter, to be resolved between debtor countries and their creditor banks, enjoys wide public support.

The “Sanctions” of the International Monetary Fund

1972 ◽  
Vol 66 (4) ◽  
pp. 737-762 ◽  
Author(s):  
Joseph Gold
Keyword(s):  
International Monetary Fund ◽  
International Monetary System ◽  
The United States ◽  
Legal Structure ◽  
Monetary System ◽  
Special Drawing ◽  
Third Stage ◽  
Special Drawing Rights ◽  
Two Stages ◽  
The International Monetary Fund

Recent events in the international monetary system culminating in the decision of the United States, announced on August 15, 1971, to suspend the convertibility of the dollar induce the international lawyer to ask once again what contribution sanctions can make to respect for international law and the effectiveness of multilateral treaties. This question has been a practical problem at two stages in the development of the International Monetary Fund. It arose first during the negotiation and drafting of the original Articles of Agreement which were adopted at the Bretton Woods Conference in July 1944. The second stage was the negotiation and drafting of the amendment of July 28, 1969, which dealt mainly with the legal structure of special drawing rights as a supplement to existing reserve assets. It is now apparent that there will be a third stage, in which a reform of the international monetary system, perhaps in some of its most fundamental aspects, will lead to a further amendment of the Fund's charter.

scholarly journals An introduction to the prospect of the Chinese RMB as a reserve currency

2016 ◽  
Vol 11 (1) ◽  
pp. 71-76 ◽  
Author(s):  
Paul Gentle
Keyword(s):  
International Monetary Fund ◽  
Foreseeable Future ◽  
Reserve Currency ◽  
Special Drawing ◽  
Special Drawing Rights ◽  
The International Monetary Fund ◽  
The U.S

On October 1, 2016, the Chinese RMB (yuan) will be included in the SDRs of the International Monetary Fund (IMF). Reserve currencies are select currencies that have special drawing rights (SDRs). This article examines some of the aspects of this impending change of including the Chinese RMB as a select currency. The U.S. dollar is expected to continue to dominate as a select currency, after October 1, 2016, for the foreseeable future. This article has been written so as to provide general economists with some understanding of special drawing rights (SDR) of the International Monetary Fund (IMF) and how the addition of the Chinese RMB will fit in, as of October 1, 2016

Sri Lanka will try to manage debt without IMF help

2021 ◽  
Keyword(s):  
Sri Lanka ◽  
Foreign Exchange ◽  
Debt Crisis ◽  
Content Type ◽  
Special Drawing ◽  
External Stakeholders ◽  
Capital Outflows ◽  
The Government ◽  
Special Drawing Rights ◽  
India And China

Significance The government nevertheless remains under pressure from domestic critics and external stakeholders because of dwindling foreign exchange (forex) reserves and a growing debt crisis. Sri Lanka approached the IMF in early 2020 for macroeconomic support under the Fund’s Rapid Financing Instrument, but negotiations were shelved. Impacts The government will face increasing domestic pushback over its efforts to curb capital outflows. Although India and China will remain Sri Lanka’s most important partners, ties with Bangladesh will grow markedly. Sri Lanka should be able to access an allocation of IMF special drawing rights later this month.

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