Always the bridesmaid, never the bride: the history and future of IMF special drawing rights as an international reserve currency

2014 ◽  
Vol 5 (1) ◽  
pp. 70-83
Author(s):  
Joshua P. Zoffer
Keyword(s):  
International Reserve ◽  
Reserve Currency ◽  
Special Drawing ◽  
Special Drawing Rights

Renminbi Joins International Monetary Fund’s Special Drawing Rights Basket: Rationale and Significance

2017 ◽  
Vol 09 (03) ◽  
pp. 76-84
Author(s):  
Jing WAN
Keyword(s):  
Policy Coordination ◽  
International Reserve ◽  
Reserve Currency ◽  
Special Drawing ◽  
The Us ◽  
Push Forward ◽  
Us Dollar ◽  
The 2008 Financial Crisis ◽  
Special Drawing Rights ◽  
The International Monetary Fund

After the 2008 financial crisis, the International Monetary Fund realises that reforms are needed to reduce the reliance on the US dollar as the only international reserve currency. It began to nurture super-sovereign reserve money where SDR (Special Drawing Rights) is the most favourable candidate. Joining SDR will push forward China’s exchange rate reform to meet the standard of a real international reserve currency, which requires more skilful domestic and international policy coordination.

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.

Bancor Comes of Age: A Case for an Indian Bitcoin Reserve

2021 ◽  
pp. 097492842110681
Author(s):  
Ashwath Komath
Keyword(s):  
State Policy ◽  
International System ◽  
International Reserve ◽  
National Currency ◽  
Reserve Currency ◽  
John Maynard Keynes

John Maynard Keynes proposed the concept of ‘Bancor’ 1940 as a supranational currency that would serve as the international reserve currency. The concept did not take off at the time, although the underlying need to liberate the international system from the hegemonic tendencies of a national currency serving as a global medium of exchange. The emergence of Bitcoin makes it possible to revive the idea of a de-nationalised global medium of exchange. This article examines the feasibility of such an idea by examining a viable state policy for adoption and use in the international realm.

China and the SDR: Financial Liberalization through the Back Door

2019 ◽  
Vol 09 (03) ◽  
pp. 1950007 ◽  
Author(s):  
Barry Eichengreen ◽  
Guangtao Xia
Keyword(s):  
Financial Liberalization ◽  
Special Drawing ◽  
Back Door ◽  
Special Drawing Rights

We analyze the motives for China’s campaign to secure the addition of its currency, the renminbi, to the basket of currencies comprising the International Monetary Fund’s Special Drawing Rights. Our argument is that the campaign to add the renminbi to the SDR basket was not just a vanity project; it was a strategy used by the advocates of financial liberalization in China to force the pace of reform. It was also a strategy with significant risks.

Sign in / Sign up

Export Citation Format

Share Document