Overview
The Initiative for Policy Dialogue (IPD) and the Institute of Global Politics (IGP) at Columbia University, the Center for Economic and Policy Research (CEPR) in Washington D.C., and the Global Development Policy Center at Boston University (GDPC) hosted a workshop on “The Role of SDRs for Global Stability and Sustainable Economic Transformation,” on December 5, 2025.
Special Drawing Rights (SDRs) are interest-bearing international reserve assets created by the IMF in 1969 to supplement member countries’ reserves and support global liquidity. Although their role was expanded in 1978 to become the “principal reserve asset,” allocations remained limited until the 2009 financial crisis and again in response to COVID-19. The 2021 allocation was the largest in history. However, its use has only been partial due to different constraints.
The workshop was held on Friday, December 5, 2025, at the School of International and Public Affairs (SIPA) at Columbia University.
Scientific committee:
- Jeronim Capaldo (United Nations Conference on Trade and Development);
- Kevin Gallagher (Boston University, GDPC);
- Martin Guzman (Columbia University SIPA, IPD);
- José Antonio Ocampo (Columbia University SIPA);
- Joseph E. Stiglitz (Columbia University, IPD);
- Marina Zucker Marques (Boston University GDPC);
- Mark Weisbrot (CEPR).