President Cyril Ramaphosa has added his voice to leaders calling for greater equality in the international economy. During times of crisis, Special Drawing Rights have boosted the international economy. Fresh from a Paris summit on Africa's post-pandemic recovery, Ramaphosa joined the call for increasing Africa's share of the International Monetary Fund's (IMF) Special Drawing Rights (SDR) facility. Special Drawing Rights and the pandemicEarlier this year, the IMF agreed to making the facility available again, to address the economic consequences of the pandemic. Ramaphosa and other African leaders are calling for a bigger allocation of the SDR: 25% to share, which amounts to $162 billion.

Source: The North Africa Journal May 24, 2021 13:18 UTC