Sentences with phrase «of international reserve asset»
In November, the International Monetary Fund (IMF) agreed to add the renminbi to its Special Drawing Rights (SDR), a type of international reserve asset.
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Boockvar said that if China were to take such a daring step, it could ruin its chances of being accepted into the International Monetary Fund's basket of special drawing rights currencies — IMF - issued reserve assets — in October 2016.
The underlying determinants for these declines are related to the global supply and demand for funds, including shifting demographics, slower trend productivity and economic growth, emerging markets seeking large reserves of safe assets, and a more general global savings glut (Council of Economic Advisers 2015, International Monetary Fund 2014, Rachel and Smith 2015, Caballero, Farhi, and Gourinchas 2016).
An additional factor which has, at the margin, increased the demand for Australian - dollar assets is demand from other central banks to hold Australian dollars as part of their international reserves.
The SDR was created as a supplementary international reserve asset in the context of the Bretton Woods fixed exchange rate system.
Other options include the transfer of IMF - created «special drawing rights» (reserve assets created by the International Monetary Fund that countries can exchange for hard currency) from rich to poorer countries, redirecting harmful fossil - fuel subsidies, reducing spending on ballooning military budgets, and taxing aviation and shipping.