African nations expect $33.6B in Special Drawing Rights

“African nations expect to receive $33.6 billion from a new issuance of Special Drawing Rights, according to Vera Songwe, executive secretary of the United Nations Economic Commission for Africa. On Wednesday, G-20 finance ministers and central bank governors reaffirmed calls for the International Monetary Fund to make a proposal for a new allocation of $650 billion in SDRs — an international reserve asset — that will provide countries around the world with liquidity. The last SDR allocation was issued in 2009 following the global financial crisis.”