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Find all the economic and financial information on our Orishas Direct application to download on Play StoreAt the Summit on Financing African Economies held in Paris on May 18, 2021, participants called for the rapid effectiveness of a general allocation of special drawing rights (SDRs) from the IMF in response to the effects of the crisis. To this end, several billion FCFA have been disbursed to support African States.
The general allocation of Special Drawing Rights, announced three weeks ago by the International Monetary Fund (IMF), comes into effect on Monday 23 August. It is equivalent to 650 billion dollars (about 456 billion SDR) and aims to increase liquidity in the world. According to 'Financial Afrik', with the 3.5 billion dollars which will be allocated to it, Nigeria, the first economy on the African continent since 2014, is overtaken by South Africa which is doing with 4.3 billion dollars. dollars, or 0.6% of the total allocation of Special Drawing Rights from the International Monetary Fund (IMF). Egypt completes the top three and will be awarded 2.9 billion dollars (2 billion SDR). For their part, the DRC and Morocco come in 4th and 5th position with respectively 1.5 billion and 1.2 billion dollars. Angola, 6th with 1 billion, is ahead of the giant of Uemoa, Côte d'Ivoire, which will receive an amount of 925.6 million dollars. Next come Tunisia (775.8 million), Senegal (460.5 million), Cameroon (393 million), Togo (208.9 million), Chad (199 million), Benin (176.1 million ) and Burkina Faso (171.4 million). African countries are to benefit from 33 billion dollars – apart from an option under consideration: “voluntary” transfers of SDRs from richer countries to poorer and more vulnerable countries “to help them recover from the pandemic. and achieve resilient and sustainable growth”.
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