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Mexico to receive $4 bn from IMF to bolster reserves

Category :International Sub Category :Americas
2009-08-29 00:00:00
   Views : 357

The SDR is an interest-bearing IMF international reserve asset created by the IMF in 1969 to supplement its member countries' official reserves. Its value is based on a basket of key international currencies that includes the dollar, the euro, the British pound and the yen.

Banco de Mexico said the SDRs are not related to a $47 billion line of credit that Mexico received from the IMF in April.

According to the IMF, an SDR allocation is a low cost way for its members to build their reserves without having to rely on more expensive domestic or external debt.




Author :Indo Asian News Service



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