| 单词 | Special Drawing Rights |
| 释义 | Special Drawing Rights = SDRs The standard unit of account used by the International Monetary Fund (IMF). In 1970 members of the IMF were allocated SDRs in proportion to the quotas of currency that they had subscribed to the fund on its formation. There have since been further allocations. SDRs can be used to settle international trade balances and to repay debts to the IMF itself. On the instructions of the IMF a member country must supply its own currency to another member, in exchange for SDRs, unless it already holds more than three times its original allocation. The value of SDRs was originally expressed in terms of gold (hence their former name paper gold), but since 1974 they have been valued in terms of their members' currencies. SDRs provide a credit facility for IMF members in addition to their existing credit facilities (hence the name); unlike these existing facilities they do not have to be repaid, thus forming a permanent addition to members' reserves and functioning as an international reserve currency. Compare: |
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