Hello! I wrote a piece for @TheEconomist about whether the IMF should issue more special drawing rights.

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This background paper from Maury Obstfeld

https://eml.berkeley.edu/~obstfeld/SDR_Obstfeld.pdf">https://eml.berkeley.edu/~obstfeld...

A thread of some relevant resources that I found useful:

1) From Ted Truman, proponent of the SDR allocation in 2009, and proponent now
https://www.piie.com/blogs/realtime-economic-issues-watch/imf-will-need-more-resources-fight-covid-19-pandemic">https://www.piie.com/blogs/rea...

2) From Kevin Gallagher, Dr José Antonio Ocampo & Dr Ulrich Volz (also advocates) who see an SDR allocation as an opportunity to increase the role of SDRs

http://ftalphaville.ft.com/2020/03/20/1584709367000/It-s-time-for-a-major-issuance-of-the-IMF-s-Special-Drawing-Rights/">https://ftalphaville.ft.com/2020/03/2...

3) @Brad_Setser who is just really smart

https://www.cfr.org/blog/addressing-global-dollar-shortage-more-swap-lines-new-fed-repo-facility-central-banks-more-imf">https://www.cfr.org/blog/addr...

Now for some sceptics

4) @sobel_mark, who *KNOWS* how the system works, argues that "given more practical realities, the case for an allocation is neither sufficiently strong nor compelling." Other policies would be more effective/efficient.

https://www.omfif.org/2020/03/coronavirus-sdr-allocation-not-the-answer/">https://www.omfif.org/2020/03/c...

5) Ousmène Mandeng, another sceptic, who looks at whether governments converted their SDRs into cash.

https://www.economicsadvisory.com/comments/20-03-20-SDR-allocation.html">https://www.economicsadvisory.com/comments/...

A response to the critics, from Gallagher/Ocampo/Volz

https://www.brookings.edu/blog/future-development/2020/03/26/imf-special-drawing-rights-a-key-tool-for-attacking-a-covid-19-financial-fallout-in-developing-countries/?utm_source=feedblitz&utm_medium=FeedBlitzRss&utm_campaign=brookingsrss/topfeeds/latestfrombrookings">https://www.brookings.edu/blog/futu...

Some figures from @SergiLanauIIF, who points out that an allocation would be too small to matter for EMs, but could make a difference in some African countries

https://www.iif.com/Publications/ID/3840/Economic-Views--EM-Funding-Needs-in-the-COVID-19-Shock">https://www.iif.com/Publicati...

THANKS to everyone listed and everyone who spoke to me on background.

PS though my sources were (slightly) more diverse than this list suggests, I would be VERY grateful for all suggestions to make them more so.