ONE responds to G7 Finance Ministers meeting

In response to the G7’s announcement to back a ‘new and sizeable’ SDRs allocation, Romilly Greenhill, UK Director at ONE, said: 

“The G7’s decision is an important milestone in helping countries weather the ongoing pandemic. It is now critical that they build on this momentum, encourage other G20 countries to follow their lead, and back a USD 650 billion issuance of SDRs by early next month. To manage the financial fallout from this global crisis, G7 governments must also make good on their promise to voluntarily recycle their SDR holdings to the poorest countries.”