The Secretary-General welcomes the 15 May decision by the board of the International Monetary Fund to allow its members to re-channel their Special Drawing Rights (SDRs) to multilateral development banks through the purchase of hybrid capital instruments.
 
This is an important and innovative step towards expanding finance for sustainable development, in line with the Secretary-General’s proposed SDG Stimulus.  It could immediately unlock up to $80 billion in desperately needed resources for developing countries, including to help tackle the climate crisis.  
 
The Secretary-General calls on countries in a position to do so to seize this opportunity to re-channel their SDRs, which can then be leveraged to increase lending to developing countries.