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March 13, 2021 Share this post: The recent call to action by the Secretary of the Treasury of the United States, Janet Yellen, to the G-20 for a new issue of IMF Special Drawing Rights (SDRs), which the G-20 recently approved, and the re-allocation of excess SDRs to low-income countries (LICs) is a much welcome and needed initiative. Concerted international action and solidarity are the only means to confront and overcome the COVID-19 crisis. A truly multilateral and global response to the Pandemic must extend the benefits of this initiative to all developing countries, irrespective of their level of income, including to middle-income countries (MICs). MICs represent 75% of the world’s population, and roughly 30% of global aggregate demand. More importantly, MICs account for 96% of developing country public debt (excluding China and India). Their success in confronting COVID-19 is central for global recovery and financial stability.

United statesJanet yellenTom tarrSustainable development goalsDrawing rightsLatin americanRegional financial arrangementsஒன்றுபட்டது மாநிலங்களில்டோம் தார்நிலையான வளர்ச்சி இலக்குகள்வரைதல் உரிமைகள்லத்தீன் அமெரிக்கன்பிராந்திய நிதி ஏற்பாடுகள்