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SDR Distribution, Interest Rates and Aid Flows

In: Managing Global Money

Author

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  • Graham Bird

    (University of Surrey)

Abstract

Now that the rate of interest on Special Drawing Rights (SDRs) on the International Monetary Fund (IMF) has been increased to a market-related level, what is the significance for developing countries of a link between the creation of SDRs and the provision of development finance, as has been urged in many quarters for a number of years? In addressing that question, this chapter challenges, in particular, any tendency to assume that as a result of the increase the establishment of a ‘link’ — the shorthand expression that will be used throughout — would be of little relevance to developing countries because of the supposed zero, or near zero, grant element associated with the use of SDRs.

Suggested Citation

  • Graham Bird, 1988. "SDR Distribution, Interest Rates and Aid Flows," Palgrave Macmillan Books, in: Managing Global Money, chapter 8, pages 124-133, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-09588-9_8
    DOI: 10.1007/978-1-349-09588-9_8
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