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China Reaffirms Commitment to Redistribute Its Share of the IMF’s New Special Drawing Rights

China’s top diplomat for sub-Saharan Africa, Wu Peng, tweeted on Tuesday that Beijing remains committed to redistributing its share of the International Monetary Fund’s recent issuance of $650 billion in new so-called “Special Drawing Rights” (effectively the currency of the IMF). 

The SDRs are allocated to each IMF member based on the size of their economy, meaning that the wealthiest twenty countries will receive 80% of the total SDR allocation

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