Financial Times FT.com

Group of 20

G20 pledge on SDRs unlikely to threaten dollar

By Alan Beattie

Published: April 5 2009 16:56 | Last updated: April 5 2009 16:56

One of the more surprising elements in the package assembled by the G20 was the decision to create $250bn in special drawing rights, a form of basket “currency” used by the International Monetary Fund.

On top of the pledge to increase the IMF’s resources by the Group of 20 leading and emerging nations, the creation of SDRs – the first such decision since 1981 – might be regarded by some as a further shift towards global economic management of liquidity and the financial system.

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