Contingent assets — quantifiable
Treasury
International Monetary Fund allocations of Special Drawing Rights
G‑20 Leaders have agreed to support a general allocation of Special Drawing Rights (SDR) by the International Monetary Fund (IMF) equivalent to US$250 billion and have called for urgent ratification of an amendment to the IMF's Articles of Agreement to allow a special one‑off SDR allocation equivalent to US$32 billion. Ratification by the United States would bring this amendment into effect. Australia ratified in 2001.
The SDR is an international reserve asset created by the IMF in 1969 to supplement the existing official reserves of member countries. Its value is based on a basket of key international currencies (the US dollar, euro, pound sterling and yen).
Implementation of these measures would inject the equivalent of US$282 billion into the world economy and increase global liquidity. General SDR allocations are distributed to IMF members in proportion to their quotas in the Fund. Australia's share of the allocations would be equivalent to either US$3.7 billion (estimated value A$5.4 billion) or US$4.0 billion (estimated value A$5.9 billion), depending on timing and the quota distribution used by the IMF.
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