Iraq's SDR share

Iraq's SDR share
General and Special SDR Allocations
(in millions of SDRs)

Member Country Iraq

General SDR Allocation1,3 881.0

Special SDR Allocation2 185.1

Total3 1,066.0

Source: IMF Finance Department.1/ The general allocation of 74.1309799813 percent of quotas will take place on August 28, 2009.2/ Provided under the Fourth Amendment of the Articles of Agreement; will take place on September 9, 2009.3/Assuming that no members opt out.* Countries that will receive allocations for the first time as a result of both the General and Special SDR Allocation.

The timing is interesting given the chatter that is out there. above info. is on the IMf site.

Thnx Thumper..very interesting to say the least

I wonder how the SDR actually breaks-down (money-wise)? For instance: 31,066 Bln? Can it be electronically borrowed against in an exponential fashion, same as banks? Banks: you put in 10,000 they can now loan 100,000? Just curious.

OWL wrote:I wonder how the SDR actually breaks-down (money-wise)? For instance: 31,066 Bln? Can it be electronically borrowed against in an exponential fashion, same as banks? Banks: you put in 10,000 they can now loan 100,000? Just curious.

Exchange of SDRs expected to rely on voluntary trading arrangements
Once
the SDRs have been allocated, members can decide to keep them it their
reserves or exchange them for hard currencies as their individual
situations dictate. In order to accommodate the expected increase in
the volume of SDR transactions, the IMF has called for expanding the
capacity of voluntary trading arrangements.

Under the
voluntary trading arrangements, individual Fund members stand ready to
buy and sell SDRs within certain limits, thereby effectively
establishing an SDR market. The IMF acts as a broker and arranges
transactions between prospective buyers and sellers of SDRs at no cost.
These voluntary arrangements have ensured the liquidity of the SDR for
more than two decades.
A number of members with sufficiently strong
external positions have already stepped forward, saying they will
establish a new voluntary arrangement or expand the capacity of their
existing arrangements in light of the new allocations.

In the
event that there is insufficient capacity under the voluntary trading
arrangements, the IMF can activate a designation mechanism to guarantee
the liquidity of the SDR. Under this mechanism, members with
sufficiently strong external positions are designated by the Fund to
buy SDRs with freely usable currencies up to certain amounts from
members with weak external positions. This arrangement serves as a
backstop to guarantee the liquidity and the reserve asset character of
the SDR.

More explaining at this article:
https://dinaroutcast.forumotion.com/imf-f15/imf-injecting-283-billion-in-sdrs-into-global-economy-t1890.htm

Thanks Thump....mom's going to love this one.