IMF Special Drawing Rights.

Doug Henwood dhenwood at
Thu Apr 29 08:58:47 PDT 1999

Chris Burford wrote:

>It would be a revolutionary reform to demand that the IMF has a policy
>greatly to expand the issuance of SDR's to reverse the increase in the
>global circulation of dollars. Such a policy could have rules about how the
>sums are released at times counter-cyclical to the capitalist trade cycle
>and in such a way as to prioritise bids for humanitarian and environmental
>causes on a global scale.

Why do you think the issuance of a purely notional currency that no one accepts for payment, which is backed by no central bank, which is valorized by the products of no national economy, whose issuance wouldn't be met by any expansion of real production - why would it have good effects?


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