Italy transfers US$4.0 billion in Special Drawing Rights to vulnerable countries

In the G20 leaders' summit framework, Italy announced it will allocate 20% of its Special Drawing Rights (SDRs) to lower-middle-income economies (LMICs), equivalent to US$4.0 billion. As part of this pledge, 1.0 billion in SDRs (US$1.4 billion) will be channeled to scale up the International Monetary Fund (IMF) Poverty Reduction and Growth Trust's (PRGT) lending capacity that provides concessional lending to most-vulnerable countries.

G20 countries pledged to return to vulnerable countries US$100.0 billion of the US$650.0 billion in SDRs issued globally by the IMF to face the crisis caused by the COVID-19 pandemic. Currently, the G20 and guest countries have pledged US$45 billion from their recent SDR allocation towards vulnerable countries.

Press release - Italian Ministry of Finance