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Reallocating SDRs: The Possibility for a Resilience and Sustainability Trust (RST)

Monday, October 11, 2021 - 9:30am to 11:00am Washington DC Time

 
PANELLISTS

  • John Hicklin, Non-Resident Fellow, Center for Global Development
  • Uma Ramakrishnan, Deputy Director, Strategy, Policy and Review Department, IMF
  • Rodrigo Cubero, Governor, Central Bank of Costa Rica
  • Mikhael Ayache, Head of International Financial Systems and Summits Preparation, French Ministry for the Economy and Finance
  • Meg Lundsager, Public Policy Fellow at the Woodrow Wilson International Center for Scholars

MODERATOR

  • Mark Plant, Co-Director of Development Finance, and Senior Policy Fellow, Center for Global Development

ABOUT THE EVENT

With the allocation of $650 billion of SDRs effected on August 23, 2021, global policy attention has shifted to the best ways to use them. While the new SDRs allocation gives each country more monetary and fiscal room to maneuver, there is broad recognition that there would be a benefit to recycle or channel the new SDRs of advanced countries to more vulnerable low- and middle-income countries.

In this context, the IMF is considering establishing a new trust, tentatively named the Resilience and Sustainability Trust (RST), that could be accessed by vulnerable middle-income countries, as well as low-income countries, and would provide financing for a broader set of issues related to transition from the pandemic into a more sustainable and equitable global economy.

In this public panel hosted by the Center for Global Development, economists, policymakers and IMF experts will examine the challenges and opportunities ahead for the establishment of a Resilience and Sustainability Trust (RST) as a mechanism to reallocate new SDRs. They will discuss what an RST might look like, what gaps it might fill in the international financial architecture and what the challenges would be in setting it.

Participants may wish to review two CGD papers on the RST which can be found here and here.

If you have questions for our panelists, please submit them to events@cgdev.org, tweet @CGDev #CGDTalks, or submit your comments via YouTube.

Related Experts

Photo of John Hicklin
Non-Resident Fellow
Photo of Mark Plant
Chief Operating Officer of CGD Europe, Co-Director of Development Finance, and Senior Policy Fellow