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Leveraging the power of Special Drawing Rights: how developed countries can help boost Africa’s development

Q1: At the African Union Summit of Heads of State and Government in Addis Ababa, in February, African leaders called for providing Africa with a larger part of the re-allocated Special Drawing RightsDo you think Africa can succeed in securing a bigger settlement?

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Channel IMF Special Drawing Rights through multilateral development banks, urge African Development Bank Governors

The United Kingdom may channel some of its International Monetary Fund Special Drawing Rights (SDRs) to Africa through the African Development Bank, revealed UK Minister for Africa, Latin America and the Caribbean Vicky Ford yesterday.

 “Let me be very clear, the UK would like to channel some of our SDRs to Africa through the African Development Bank,” Ford said on Wednesday at the African Development Bank Group’s 2022 Annual Meetings in Accra. “We welcome the Bank’s efforts to develop options for these SDRs,  Ford said.

Opening Remarks by HE Nana Akufo-Addo, President of the Republic of Ghana, AfDB Annual Meetings, 24 May 2022

It is my great pleasure to welcome you all to Ghana, and to the 57th African Development Bank and 48th African Development Fund Annual General Meetings. As we say in Ghana, “Akwaaba!” You are amongst a people who pride themselves on their sense of hospitality. I hope that, by the end of your visit, you will agree with this claim.

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