Excerpt from Dr. Suwailem's article, taken from the IRTI Blog:
"This is a shift from the prevailing rule that the SDR can be used only by central banks of the member countries of the IMF. However, this shift is motivated by the need to have a sustainable source of funding sustainable development. Sustainable development is a public good, and only institutions like the IMF and the MDBs can offer this good to the global economy.
It should be noted that the proposal to use SDR to support development is different from the prevalent proposals to use the SDR as a global currency or "helicopter money". We think that restricting the new role of the SDR to target sustainable development will be of especially added value to the world economy."
IRTI's Blog on Gesell's tax:
https://blogs.irti.org/a-proposal-for-sdr-based-sdgs-cryptocurrency/
LSE's article on Gesell's solution:
Image credit - Financial Times
Image credit - GG Preparata, Geselll 1862 - 1930
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