Chapter

Introduction

Christopher M.D. Wilkie

in Special Drawing Rights (SDRs)

Published in print November 2011 | ISBN: 9780199606467
Published online January 2012 | e-ISBN: 9780191731648 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199606467.003.0001
Introduction

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Special Drawing Rights (SDRs) were announced to the world at the International Monetary Fund's annual meeting in Rio de Janeiro in 1967. Only a few years later, the IMF incorporated in its Articles of Agreement the proviso that SDRs become the principal reserve asset of the international monetary system. Why has this not occurred? Are SDRs still relevant to the world economy today, particularly in the wake of the international financial crisis?

Keywords: Bretton Woods; International Monetary Fund (IMF); international monetary system; Special Drawing Rights (SDRs); US international monetary policy

Chapter.  3553 words. 

Subjects: Macroeconomics and Monetary Economics

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