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Date
04 November 2022

Sixteen civil society organisations have sent an open letter to G20 Finance Ministers, Central Bank Governors and the IMF calling for a new issuance of Special Drawing Rights along with mechanisms to distribute SDRs more fairly.

The undersigned civil society organisations urge the recipients of the open letter to consider the following measures to further respond to the current crisis and promote inclusive recoveries with long-term, sustainable development and better crisis preparedness:

  1. A new allocation of SDRs
  2. A fair and speedy SDR rechaneling from advanced to developing countries
  3. incorporate substantial changes to the design of the RST, the main IMF channelling vehicle, and to other channeling mechanisms

Signatories

  • ActionAid
  • African Forum and Network on Debt and Development (AFRODAD)
  • Bretton Woods Project
  • Caritas Africa
  • Center for Economic and Policy Research
  • Christian Aid
  • European Network on Debt and Development (EURODAD)
  • Financial Transparency Coalition
  • Global Call to Action against Poverty – GCAP
  • Global Policy Forum I
  • Initiative for Social and Economic Rights – Uganda
  • Jubilee Debt Campaign -UK
  • Latin American Network for Economic and Social Rights (LATINDADD)
  • Recourse
  • Social Justice in Global Development
  • Third World Network
  • World Economy, Ecology and Development (WEED)

Read the entire open letter here

Read the Statement by The Institute of Social Accountabity (TISA) and the African Forum and Network on Debt and Development (AFRODAD) Calling for the Issuance of Special Drawing Rights