This week a question arose in the office about IMF Special Drawing Rights (SDR).
The last time we had to deal with SDRs was for Asia Development Bank back in the days when Wayne Carey was playing for North Melbourne.
“The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. As of September 2017, 204.2 billion SDRs (equivalent to about $291 billion) had been created and allocated to members. SDRs can be exchanged for freely usable currencies. The value of the SDR is based on a basket of five major currencies—the US dollar, the euro, the Chinese renminbi (RMB), the Japanese yen, and the British pound sterling.”
Problem is that this was so long ago we can’t remember what we did with SDRs last time. Guess we’ll figure it out.
Might just suggest the IMF switch to Bitcoins instead!