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Wednesday, May 7, 2014

New World Money Is HERE: IMF Loan to Ukraine in SDR, not US Dollars

This is the first that we know of a loan by the IMF, headquartered in Washington, DC, as specifying a loan in SDR (Special Drawing Rights) rather than in the customary US Dollar.  As with most policy changes from Washington, they ease changes into existence, this seems to be the start in the use of SDR’s.
If this is the start in the use of SDR’s, then in return it’s also the start in not using the US Dollar for IMF loans, which are essentially US Govt loans.
The IMF Ukrainian loan press release is viewable here: www.imf.org/external/np/sec/pr/2014/pr14189.htm

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