The IMF board of governors has formally approved the allocation of $250 bln SDRs on August 28 with another $33 bln to be allocated on September 9.
The SDR has been in the spotlight in recent months as China propses it be made the global reserve currency.
It is interesting to note that a similar proposal was made by Germany in the 1970s after the Bretton Woods II regime collapsed. 35-years later, the dollar is still unchallenged…