Lebanon receives $ 1.14 billion from the IMF

Today, Friday, the Lebanese finance ministry said that the Central Bank of Lebanon informed the finance minister of the transfer of $ 1.139 billion in Special Drawing Rights to the International Monetary Fund on the ministry’s account at the bank.

The ministry announced it would receive allocations from the IMF reserve currencies earlier this week.

The Special Drawing Rights are an international interest-bearing reserve asset created by the Fund in 1969, as a complement to other reserve assets of member countries.

The value of the SDRs is based on a basket of international currencies consisting of the US dollar, Japanese yen, euro, British pound and Chinese yuan.

SDR is neither a currency nor a credit on the Fund, but a potential credit on the freely usable currencies of member countries.

SDR allocations are distributed only to member countries that choose to participate in the administration of SDRs. All fund members currently participate in it.

Data from the International Monetary Fund showed that Arab member countries of the International Organization have a share of approximately 5.72%, and therefore what they will get as a result of this share is estimated. in 32.2 billion dollars in the form of Special Drawing Rights That’s 22.7 billion units of drawing rights, according to Al Arabiya’s calculations.net.

The International Monetary Fund launched in August, for the fourth time in its history, the distribution of Special Drawing Rights amounting to 650 billion dollars, equivalent to 456 billion shares, which is the largest historically, to its 190 members, which he agreed to allocate at the beginning of the same month.

The appropriations for the general distribution of the special drawing rights are distributed among the member countries of the Fund in the same percentage of their respective membership fees.

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