Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what his policy is on the reallocation of the IMF's existing stock of Special Drawing Rights.

The IMF Special Drawing Right (SDR) is an international reserve asset designed to supplement the official reserves of IMF member countries. SDRs are allocated to members, including the UK, in proportion to their IMF quota shares. HMG therefore holds SDRs as part of the UK’s international reserves.

The UK has previously used its SDRs to lend to the IMF’s concessional financing facility, the Poverty Reduction and Growth Trust (PRGT). The UK also strongly supports work on a new SDR allocation to provide additional financing to low-income countries. As this year’s G7 Chair, the UK will continue to work closely with the IMF and international partners on options for the further voluntary channelling of SDRs.