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IMF: The SDR allocation is unconditional

25-08-2021 | 10:03

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IMF: The SDR allocation is unconditional

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On August 2, the IMF’s Board of Governors approved a general allocation of SDRs (Special Drawing Rights) of US$ 650 billion, which has come into effect on August 23 and has been made available to IMF member countries according to their quota share.

Lebanon has received 607.2 million SDRs from the SDR allocation on August 23.

The IMF stressed: "The SDR allocation is unconditional, however, as we have said before, it is important that the SDR allocation help replenish depleted central bank reserves and that any use is done in a transparent and responsible manner that supports needed macroeconomic adjustment and reforms and is used to help with the many urgent needs of the Lebanese people."

This comes as an answer to news that circulated this morning on that the IMF's help is conditioned to the formation of a government.

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