{"id":321386,"date":"2021-03-08T13:13:54","date_gmt":"2021-03-08T13:13:54","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=321386"},"modified":"2021-03-08T13:13:54","modified_gmt":"2021-03-08T13:13:54","slug":"egypt-among-countries-to-benefit-most-of-500-billion-imf-reserve-plan","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/03\/08\/egypt-among-countries-to-benefit-most-of-500-billion-imf-reserve-plan\/","title":{"rendered":"Egypt among countries to benefit most of $500 Billion IMF Reserve Plan"},"content":{"rendered":"

Egypt is among the countries that stand to benefit the most from an IMF proposal to earmark another $ 500 bn in Special Drawing Rights (SDRs) \u2014 the IMF\u2019s artificial currency made up of unequal parts USD, EUR, RMB, JPY, and GBP, Barclays said in a note yesterday, according to Bloomberg<\/a>.<\/p>\n

The business information service says the SDRs could help countries including Bahrain, Saudi Arabia and South Africa cushion their FX reserves. Emerging market countries would only account for USD 206 bn of<\/p>\n

What exactly are SDRs, again?<\/strong> SDRs<\/a> act as a kind of international reserve currency or asset designed to act as a supplement to IMF member countries\u2019 reserves.<\/p>\n

They were created in 1969 to create an alternative to gold and USD as the only two global reserve assets. While not currencies in themselves, SDRs are held by the fund\u2019s member countries as a way to hedge against their reliance on costly debt to build up stocks of foreign reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt is among the countries that stand to benefit the most from an IMF proposal to earmark another $ 500 bn in Special Drawing Rights (SDRs) \u2014 the IMF\u2019s artificial currency made up of unequal parts USD, EUR, RMB, JPY, and GBP, Barclays said in a note yesterday, according to Bloomberg.<\/p>\n","protected":false},"author":4,"featured_media":319992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-321386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-partners"],"yoast_head":"\nEgypt among countries to benefit most of $500 Billion IMF Reserve Plan - egy-africa<\/title>\n<meta name=\"description\" content=\"Egypt is among the countries that stand to benefit the most from an IMF proposal to earmark another $ 500 bn in Special Drawing Rights (SDRs) \u2014 the IMF\u2019s artificial currency made up of unequal parts USD, EUR, RMB, JPY, and GBP, Barclays said in a note yesterday, according to Bloomberg.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/03\/08\/egypt-among-countries-to-benefit-most-of-500-billion-imf-reserve-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt among countries to benefit most of $500 Billion IMF Reserve Plan - 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