Devex quotes Eric LeCompte on Yellen's letter to G20. Read an excerpt below, and click here for the full story.
In Brief: US Treasury indicates support for SDRs in letter to the G-20
By Adva Saldinger
The likelihood of a new issuance of International Monetary Fund Special Drawing Rights providing liquidity to low-income countries rose dramatically Thursday as the U.S. signaled its support.
In a letter to members of the G-20 group of nations, U.S. Treasury Secretary Janet Yellen said that a new allocation of SDRs could facilitate “much-needed health and economic recovery efforts” for low-income countries and that the U.S. looks forward to “discussing potential modalities for deploying SDRs.”