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Ims Part 2(Special Rawing Rights)

Ims Part 2(Special Rawing Rights)

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Categories:Business/Law
Published by: Marie Sachie Mitsui Padillo Turiano on Jul 28, 2010
Copyright:Attribution Non-commercial

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10/25/2012

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SPECIAL DRAWING RIGHTS
 
The replacement of gold as an international reserve
Established by IMF as the instrument of internationalcurrency of general acceptability among nations.
Principal reserve asset of the international monetarysystem
A currency peg; a unit of account in internationaltransport, for bond issues
A definition of obligations in international agreements
 
The Reason for SDR¶s Creation
 
The Reason for SDR¶s Creation
The inadequacy of reserves would give rise to:1.Anxiety to retain or increase reserves which wouldlead countries to adopt excessively restrictivepolicies to prevent the emergence of a payment·sdeficit or to achieve a surplus;2.Instability of exchange rates3.Rising unemployment4.Falling international prices

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