“The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system.SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of international currencies. The IMF typically lends countries funds denominated in SDRs.” Read more.
“IMF Calls for Dollar Alternative”
CNNMoney.com, February 10, 2011.
Image by scottchan / FreeDigitalPhotos.net.
Related Articles – Inflating, International, Monetary Policy, Sound Money, Sound Money Project