In early September the IMF completed the allocations of special drawing rights (SDRs) that were agreed by the G20 in April, with a $250 billion general allocation and a $34 billion special allocation designed to help members of the IMF who joined the institution after 1981. The IMF also completed its first ever sale of bonds, with $50 billion worth of SDR-denominated bonds being sold to China in early September. The IMF executive board also agreed in mid September to the modalities for the sale of 403 tonnes of IMF gold. Proceeds will mostly go to an endowment to cover the IMF’s administrative expenses (see Update 61).
SDRs allocated, bonds sold, IMF gold next
22 September 2009