Follow CGSP on Social Media

Listen to the CGSP Podcast

Rival Factions in Washington Square Up For a New Fight Over IMF Special Drawing Rights

Daniel SLIM / AFP

Early on in the COVID-19-induced financial crisis in Africa, finance ministers and other senior-level stakeholders across the continent called on the IMF to issue new so-called Special Drawing Rights (SDRs) that would provide desperately-needed liquidity into their economies.

When the IMF issues SDRs it’s almost like a bank printing money. But the catch is that the IMF must distribute those funds equally to all 190 members according to a country’s share of the fund. That means every country, regardless of its financial condition, will receive proceeds from the new SDRs. And that’s what a lot of people in Washington want to prevent — specifically allowing unrestricted money to flow to U.S. rivals including China, Iran, and Venezuela.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

What is The China-Global South Project?


The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.


A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.


Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.


A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.