IMF allocates $250 billion in Special Drawing Rights (SDRs) to stimulate world economy

The International Monetary Fund (IMF) is planning to inject $250 billion into the global economy to bolster countries’ reserves as part of measures to combat the world economic crisis.
The IMF’s Executive Board on July 20 backed an allocation of Special Drawing Rights (SDRs) —an IMF reserve asset—equivalent to $250 billion to provide liquidity to the global economic system by supplementing the Fund’s 186 member countries’ foreign exchange reserves.
The equivalent of nearly $100 billion of the new allocation will go to emerging markets and developing countries, of which low-income countries will receive over $18 billion. The proposal will now be submitted to the IMF’s Board of Governors for final approval.