ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Mexican Handicap Race

October 12, 1968 moating was not conspicuous for insights about the requirements of developing countries or about where pressure at this particular time might be most effective. While he harped at great length on the oft-repeated need to replenish IDA's resources, he had nothing to say about how the Special Drawing Rights scheme could be made more useful to the developing countries. Under the arrangement envisaged at present, SDRs would be distributed mechanically, according to the quotas of IMF member countries. This will leave quite a few developed countries, which have no need for SDKs, holding substantial quantities of them and put only a very small proportion of the total issue in the hands of the developing countries, which have the greatest need for additional liquidity. The Indian Finance Minister might have pressed the case for channelling at least half of the proposed issue of SDRs to the developing world, according to the needs of each country, through, say, the IDA.

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