{"id":3573,"date":"2021-11-01T16:53:45","date_gmt":"2021-11-01T16:53:45","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame"},"modified":"2021-11-01T17:16:12","modified_gmt":"2021-11-01T17:16:12","slug":"developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame","title":{"rendered":"Developing countries must benefit more from IMF\u2019s reserve facility \u2013Kagame"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>President Paul Kagame has issued a rallying call to world leaders to further engage in reallocation of Special Drawing Rights (SDRs), based on need. The head of state was speaking at a session on sustainable development during the just concluded G20 Summit in Rome, Italy.<\/p>\n

The SDR is an international reserve asset, created by the International Monetary Fund (IMF) to supplement its member countries\u2019 official reserves. Kagame said that the recently allocated SDRs by the IMF valued $650 billion is a positive step towards addressing liquidity shortfalls, despite the current need for more.<\/p>\n

He, decried however, that only $21 billion of these SDRs were channeled to low-income countries, citing that world leaders should forge ways of further reallocating the funds to the developing world.<\/p>\n

\u201cThis will result in a faster and more sustainable recovery from the pandemic for countries that do not have the ability to do fiscal and monetary stimulus,\u201d Kagame said.<\/p>\n

He highlighted that extra fiscal space will support women and youth by providing them with skills and jobs, and put them back at the center of growth.<\/p>\n

\u201cEven before the pandemic, the world was off track with the Sustainable Development Goals. Getting back on track will require focus and political commitment.\u201d He added.<\/p>\n

Trade key to prosperity<\/b><\/p>\n

According to the head of state, restoring the ambition of the World Trade Organization is an imperative for us all, after years of stagnation in global trade negotiations.<\/p>\n

He asserted that as emphasized by the bloc\u2019s director-general Ngozi Okonjo Iweala, the upcoming WTO ministerial conference next month is chance to come together and get some important things done.<\/p>\n

Kagame also commended the G20 compact with Africa launched under the German presidency in 2017. \u201cChancellor Merkel has sustained this initiative since then, creating new and productive links for Africa and with Africa, and we hope that this work will be carried forward.\u201d<\/p>\n

Earlier in the day, Kagame also challenged world leaders on action in tackling climate change, noting that previous commitments have not always materialized. Kagame attended the G20 Summit in his capacity as chairperson for the AUDA-NEPAD Heads of State and Government Orientation Committee.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. President Paul Kagame has issued a rallying call to world leaders to further engage in reallocation of Special Drawing Rights (SDRs), based on need. The head of state was speaking at a session on sustainable development during the just concluded G20 Summit in Rome, Italy. The SDR is an international reserve asset, […]<\/p>\n","protected":false},"author":84,"featured_media":3572,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,29,28,14],"tags":[760,763,2288,2287,872,758],"class_list":["post-3573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-rwanda","tag-developing-countries","tag-facility","tag-kagame","tag-rwanda"],"yoast_head":"\nDeveloping countries must benefit more from IMF\u2019s reserve facility \u2013Kagame - Rwanda<\/title>\n<meta name=\"description\" content=\"President Paul Kagame has issued a rallying call to world leaders to further engage in reallocation of Special Drawing R ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Developing countries must benefit more from IMF\u2019s reserve facility \u2013Kagame\" \/>\n<meta property=\"og:description\" content=\"President Paul Kagame has issued a rallying call to world leaders to further engage in reallocation of Special Drawing R ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-01T16:53:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-01T17:16:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2021\/11\/img-6180208f27391.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1556\" \/>\n\t<meta property=\"og:image:height\" content=\"1038\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Developing countries must benefit more from IMF\u2019s reserve facility \u2013Kagame\",\"datePublished\":\"2021-11-01T16:53:45+00:00\",\"dateModified\":\"2021-11-01T17:16:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame\"},\"wordCount\":375,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2021\/11\/img-6180208f27391.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"Developing countries\",\"facility\",\"Kagame\",\"Rwanda\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/developing-countries-must-benefit-more-from-imfs-reserve-facility-kagame\",\"name\":\"Developing countries must benefit more from IMF\u2019s reserve facility \u2013Kagame - 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