This would provide developing countries with additional liquidity of about $100 billion, of which $19 billion will go to low income countries. The RBI chief said there was a need to widen and deepen the market for SDRs through an expansion of the voluntary agreements. An SDR allocation is a reversible measure and the allocation could be re-considered when the global economic situation shows significant improvement. “We support the proposal to utilise the additional income from the investment of the higher proceeds of the agreed gold sale under the New Income Model to expand subsidised lending to low-income countries,” he said.
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