In a world shaken by multiple shocks affecting many countries—pandemics, wars, food and energy crises, and climate disasters—the international community has a responsibility to stand together and support the global economy and all its citizens. One example of such international cooperation has been the IMF’s largest-ever allocation of special drawing rights in August 2021, which injected $650 billion of liquidity into countries to help turn the pandemic crisis toward recovery. SDRs are unconditional reserve assets issued to member countries at times of stress to safeguard global stability. SDRs can be saved as ... (full story)