Tunisia: transfer of SDR 552.550 million allocation from IMF to Tunisia approved

Tunis / Tunisia – The allocation of special drawing rights amounting to nearly 522.550 million SDRs, granted to Tunisia by the International Monetary Fund (IMF) was approved by presidential decree on September 14, according to the edition Wednesday from the Official Journal.

This allocation was the subject of the agreement annexed to the presidential decree, concluded on September 14, between the Ministry of the Economy, Finance and Investment Support and the Central Bank of Tunisia (BCT).

The Tunisian State reimburses the commission applied to the use of this amount, for the benefit of the IMF, as well as the principal of the amount, in the event of cancellation of the allocation. This is, in accordance with the procedures in force at the Fund, fixed by the said agreement.

Tunisia’s quota in the IMF stood at SDR 545.2 million In 2020, according to data released by the fund

As a reminder, the IMF Governing Council approved on August 2, 2021 a general allocation of special drawing rights (SDRs) equivalent to 650 billion dollars (approximately 456 billion SDRs) in order to increase liquidity in the world.

The SDR is an international reserve asset created in 1969 by the IMF to supplement the official foreign exchange reserves of its member countries.

To date, a total of SDR 660.7 billion (equivalent to approximately $ 943 billion) has been allocated.

This includes the largest allocation in history of around SDR 456 billion, which went into effect on August 23, 2021.

This latest allocation is intended to meet the global need for long-term reserves and to help countries cope with the consequences of the COVID-19 pandemic.

The value of the SDR is based on a basket of five currencies: the US dollar, the euro, the Chinese renminbi, the Japanese yen and the pound sterling.

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