Ecuador will receive approximately USD 1 billion from the IMF in Special Drawing Rights

The Board of Governors of the International Monetary Fund (IMF) approved the allocation of USD 650,000 million in special drawing rights (SDRs) to all its member countries. This decision would be made with the intention of injecting greater liquidity into the world economy, according to the IMF’s managing director, Kristalina Georgieva.

With this, the member countries of the IMF will receive an allocation, which depends on their participation quota, and will be able to exchange it for any currency worldwide.

In the case of Ecuador, its quota is 0.15%, for which it will account for close to USD 1 billion.

The Special Drawing Rights (SDR) do not generate any obligation to the State or the Central Bank of Ecuador.

Of the USD 650 billion, approximately USD 275 billion of the new allocation will go to emerging markets and developing countries, including low-income countries, the IMF announced.

«We will also continue to actively engage with our members to identify viable options for the voluntary channeling of SDRs from the richest member countries to the poorest and most vulnerable to support recovery from the pandemic and achieve resilient and sustainable growth.»

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