Rechanneling IMF Special Drawing Rights

23.06.2023: Some critical remarks on the achievement of the $100 billion SDR rechanneling goal

It was foreseeable that officials at the Summit for a New Global Financing Pact in Paris would announce that they have reached their target of collecting 100 billion US-dollar for SDR rechanneling. Reaching this target was mentioned by Nadia Calviño (Vice-President, Spain) and Kristalina Georgieva (IMF-Managing Director) at the roundtable on debt and SDR-channeling and will likely be part of some official statement of the summit. Let us consider briefly some critical points with regards to quantity and quality of SDR rechanneling to put the announcement of the achievement of this goal in perspective. The devil, as always, is in the details.