African ministers call for IMF's Special Drawing Rights system reforms

ADDIS ABABA, May 23 (Xinhua) -- African ministers of finance, planning and economic development have called for reforms of the International Monetary Fund (IMF)'s Special Drawing Rights (SDR) system to strengthen the global financial safety net and make more liquidity available to developing countries.

The call for reforms was made during a meeting of the Africa High-level Working Group on the Global Financial Architecture on the margins of the 2023 Annual Meetings of the African Development Bank Group held in Sharm El-Sheikh, Egypt, the UN Economic Commission for Africa (UNECA) said in a statement late Monday.