ECB’s Stark raps move to boost IMF drawing rights
Tuesday, April 7, 2009 : PermalinkReuters – European Central Bank Executive Board member Juergen Stark was quoted on Tuesday as criticizing decisions made at the G20 summit to boost the IMF’s Special Drawing Rights (SDRs).
Stark suggested in a newspaper article that the decision was potentially inflationary as it would create "helicopter money" and that it had not been properly thought out.
Last week leaders from the Group of 20 wealthy and emerging economies agreed to support a general allocation of $250 billion worth of International Monetary Fund’s SDRs alongside other measures to boost the Fund’s firepower.
Tags: bank executive, decisions, emerging economies, executive board member, firepower, g20 summit, helicopter, imf, international monetary fund, juergen, measures, money, newspaper article, reuters, sdrs, special drawing rights
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