Special Drawing Rights (SDRs) are a reserve asset created by the International Monetary Fund (IMF) to supplement its member countries’ reserves.

According to the IMF’s website, a total equal to US$943 billion in SDRs has been allocated to date from the time they were created in 1969. This figure is inclusive of the SDR456 billion approved on the 2nd of August 2021. This most recent allocation was made necessary by the need to help countries around the world to cope with the effects of the COVID-19 pandemic. The value of the SDR is based on a basket of five currencies which include: the US dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound. …

Will Zimbabwe Pay White Farmers Or Not?

The new government of Zimbabwe is hoping to make amends with its white citizens and investors but it may not be as easy as letting bygones be bygones.

While on the one hand, the government was hoping to apiece the said white communities by offering to compensate what they lost during the reign of the past regime that grabbed land and other properties from them, several functions in Zimbabwe will not have it.

As part of its deal with the US to have sanctions lifted, Zimbabwe was required to compensate the white farmers. And so earlier in August of this year, the government had announced that it intends to pay a whopping USD3.5 billion in compensation to white former landowners. Following the announcement, a group of ex-fighter gave the new government a 48 hours ultimatum to rescind the offer.

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