Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 15 November 2021 to Question 70297 on Overseas Aid, over what time period he plans to channel and disburse the up to £4 billion in Special Drawing Rights (SDR) he announced at the IMF’s annual meeting.

At the IMF’s Annual Meetings, the Chancellor committed to channelling up to 4bn in SDR, starting with an additional loan of SDR 1bn to the IMF’s Poverty Reduction and Growth Trust. This loan will be drawn down over time by the poorest and most vulnerable countries at highly concessional interest rates.

The needs and demands of vulnerable countries will continue to determine the time period over which the UK’s SDR channelling commitments are drawn down from the IMF by eligible countries, as the IMF’s concessional loan facilities are demand led.