De G20 top in Cannes levert weeral enkele opmerkelijke ideeën op. Zo wil de groep dat het IMF meer SDR’s (Special Drawing Rights) gaat printen om de globale economie te stimuleren. Uiteraard betreft het hier een reddingsactie voor Europa. Via Reuters:
The idea being discussed is to replicate a 2009 decision by G20 leaders that agreed to a special allocation of $250 billion of IMF Special Drawing Rights, the IMF’s internal unit of account, to its 187 member countries. G20 European sources said that French President Nicolas Sarkozy was pushing to include a reference to the SDR allocation in a final G20 communique on Friday. Some members could choose to sell part or all of their new SDR allocations to other members in exchange for hard currency, for example to meet balance of payments needs, while other members could buy more SDRs as a means of reallocating their reserves. G20 sources said euro zone countries, worried about the sovereign debt crisis, were talking about the possibility of pooling their SDR allocations in some way. One source from a large emerging market country said that if euro zone countries combined their SDR allocations, it could make available roughly $200 billion to Europe. The IMF created SDRs in 1969 as a way to support its member countries. They are allocated according to members’ IMF quotas, which are broadly based on a country’s relative size in the world economy and which determines its voting power. The idea of a special SDR allocation was raised during G20 discussions on increasing IMF resources to boost the institution’s firepower to tackle future crises. One European source said a figure of $1 trillion was mentioned as a potential target for the increase in IMF lending resources, although the person emphasized there was no formal number.