Saturday, October 23

G20 aims to channel allocated SDRs to countries in need-Italian presidency

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ROME — The Group of 20 rich countries aims to announce next week that it will ensure that reserve assets issued by the International Monetary Fund are allocated to the countries that need them most, the Italian presidency said on Wednesday.

“We are now building a political consensus on the options for channeling allocated SDRs (Special Drawing Rights) to countries in need,” Italian Economy Minister Daniele Franco said at a conference in Rome.

“The ambition is to announce a clear commitment to implement these options next week in Washington,” he added, in reference to the upcoming G20 meeting of finance ministers and central bankers. (Reporting by Giuseppe Fonte, writing by Gavin Jones)

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