Chapter

SDR Department

Author(s):
International Monetary Fund
Published Date:
October 2017
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Report of Independent Auditors

To the Board of Governors of the International Monetary Fund

We have audited the accompanying financial statements of the Special Drawing Rights Department (SDR Department) of the International Monetary Fund (the “Department”), which comprise the statements of financial position as of April 30, 2017 and 2016, and the related statements of comprehensive income for the years then ended.

We are independent of the Department in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United States of America, together with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants, and we have fulfilled our other ethical responsibilities in accordance with these requirements, respectively.

Responsibilities of Management and Those Charged With Governance for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Department’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting, unless management either intends to liquidate the Department or to cease operations or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Department’s financial reporting process.

Auditors’ Responsibility

Our responsibility is to express an opinion on the financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America and International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error. Reasonable assurance is a high level of assurance but is not a guarantee that an audit will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. We design audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error because fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

In making those risk assessments, we consider internal control relevant to the Department’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the Department s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation, structure, and content of the financial statements, including disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

As part of an audit:

  • We exercise professional judgment and maintain professional skepticism throughout the audit.

  • We conclude on the appropriateness of management’s use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Department’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the Department to cease to continue as a going concern.

  • We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies or material weaknesses in internal control that we identify during our audit.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Special Drawing Rights Department of the International Monetary Fund as of April 30, 2017 and 2016, and the results of its operations for the years then ended in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.

Other Matter

Our audit was conducted for the purpose of forming an opinion on the financial statements taken as a whole. The supplemental schedules listed on pages 43 to 47 are presented for purposes of additional analysis and are not a required part of the financial statements. The information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves and other additional procedures, in accordance with auditing standards generally accepted in the United States of America. We also subjected the information to the applicable procedures required by the International Standards on Auditing. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements taken as a whole.

June 23, 2017

Statements of financial position at April 30, 2017, and 2016

(In millions of SDRs)

Note20172016
Assets
Net charges receivable324
Participants with holdings below allocations4
Allocations136,657133,562
Less: SDR holdings102,37997,730
Allocations in excess of holdings34,27835,832
Total assets34,31035,836
Liabilities
Net interest payable324
Participants with holdings above allocations4
SDR holdings72,43873,197
Less: allocations67,50170,529
Holdings in excess of allocations4,9372,668
Holdings by the General Resources Account28,25631,842
Holdings by prescribed holders1,0851,322
Total liabilities34,31035,836
The accompanying notes are an integral part of these financial statements.These financial statements were approved by the Managing Director and the Director of Finance on June 23, 2017.
The accompanying notes are an integral part of these financial statements.These financial statements were approved by the Managing Director and the Director of Finance on June 23, 2017.
Christine Lagarde /s/Andrew Tweedie /s/
Managing DirectorDirector, Finance Department

Statements of comprehensive income for the financial years ended April 30, 2017, and 2016

(In millions of SDRs)

20172016
Revenue
Net charges from participants with holdings below allocations6412
Assessment on SDR allocations67
7019
Expenses
Interest on SDR holdings
Net interest to participants with holdings above allocations82
General Resources Account549
Prescribed holders21
6412
Administrative expenses67
7019
Other comprehensive income
Total comprehensive income
The accompanying notes are an integral part of these financial statements.
The accompanying notes are an integral part of these financial statements.

Notes to the financial statements for the financial years ended April 30, 2017, and 2016

1. Nature of operations

The Special Drawing Right (SDR) is an international interest-bearing reserve asset created by the International Monetary Fund (IMF) following the First Amendment of the Articles of Agreement in 1969. SDRs can be held and used only by participants in the SDR Department, by the IMF through the General Resources Account (GRA), and by certain official entities designated by the IMF and referred to as “prescribed holders”. The IMF may allocate SDRs, as a supplement to existing reserve assets, to members participating in the SDR Department. Their value as a reserve asset derives from the commitments of participants to hold and accept SDRs and to honor various obligations connected with the proper functioning of the SDR Department.

A member earns interest on its holdings and pays interest on its cumulative allocations, both at the SDR interest rate. Members that use their SDRs, and therefore hold fewer SDRs than their cumulative allocations, will pay more interest than they will receive on their holdings. Conversely, members that hold more SDRs than their cumulative allocations will receive more interest than they will pay on their holdings. The resources of the SDR Department are held separately from the assets of all the other accounts of, or administered by, the IMF. They may not be used to meet the liabilities, obligations, or losses of the IMF incurred in the operations of the General Department or other accounts, except that the SDR Department reimburses the General Department for expenses incurred in conducting the business of the SDR Department.

At April 30, 2017, and 2016, all members of the IMF were participants in the SDR Department. SDRs have been allocated by the IMF to members that are participants in the SDR Department in proportion to their quotas in the IMF at the time of the allocation. Since the creation of the SDR, three general allocations and one special allocation have been made, for a total of SDR 204.2 billion as of April 30, 2017 (SDR 204.1 billion as of April 30, 2016). Upon participants’ termination of participation in, or liquidation of, the SDR Department, the IMF will provide to holders freely usable currencies or currencies of holders received from the participants in settlement of their obligations. A freely usable currency is a member’s currency that the IMF has determined is widely used to make payments for international transactions and widely traded in the principal exchange markets. At present, the Chinese renminbi, euro, Japanese yen, pound sterling, and U.S. dollar are classified as freely usable currencies. The IMF may prescribe certain official entities as holders of SDRs; at April 30, 2017, and 2016, 15 institutions were prescribed as holders. Prescribed holders do not receive SDR allocations.

The SDR is also used by several international and regional organizations as a unit of account or as the basis for their units of account. Several international conventions and treaties also use the SDR as a unit of account.

1.1 Uses of SDRs

Participants and prescribed holders can use and receive SDRs in transactions and operations by agreement among themselves. Participants can also use SDRs in operations and transactions involving the GRA of the General Department, such as the payment of quota, payment of charges, and repurchases. The GRA can use SDRs in operations and transactions involving participants, such as payment of remuneration and repayment of borrowings. If necessary, the IMF may also designate participants to provide freely usable currency in exchange for SDRs; in doing so, the IMF ensures that a participant can use its SDRs to obtain an equivalent amount of freely usable currency if it has a need because of its balance of payments, its reserve position, or developments in its reserves.

1.2 Allocations and cancellations of SDRs

The IMF has the authority to provide unconditional liquidity through general allocations of SDRs to participants in the SDR Department in proportion to their quotas in the IMF. The IMF cannot allocate SDRs to itself or to other holders it prescribes. In its decisions on general allocations of SDRs, the IMF, as prescribed under its Articles, has sought to meet the long-term global need to supplement existing reserve assets and avoid economic stagnation and deflation as well as excess demand and inflation.

A new IMF member that elects to participate in the SDR Department receives an initial allocation determined on the basis of its IMF quota. In addition, the member also receives a one-time special allocation of SDRs under the Fourth Amendment of the Articles of Agreement. The latter, which came to effect in 2009, was intended to enable all members at the time and new members to participate in the SDR system on an equitable basis.

SDRs allocated under the special allocation to participants with overdue obligations to the IMF are held in an escrow account with the SDR Department and will be released to the participants upon their settlement of all overdue obligations (see Note 4).

The Articles of Agreement also provide for cancellations of SDRs, although to date there have been no cancellations.

2. Basis of preparation and measurement

The financial statements of the SDR Department are prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The financial statements have been prepared under the historical cost convention.

The SDR Department is self-financed and does not have any equity as net cumulative allocations are equal to SDR holdings. It holds no cash or cash equivalents; and as net revenue and net expenditure are always equal, it generates no income. Cash flows arising from operating activities are limited to the receipt of charges and assessments and payment of interest and administrative expenses. A statement of cash flows is not presented as it would not provide additional information beyond that already contained in the Statements of Comprehensive Income. Changes in SDR holdings are shown in Schedule 1.

2.1 Unit of account

The financial statements are presented in SDRs, which is the IMF’s unit of account. The value of the SDR is determined daily by the IMF by summing specific amounts of the basket currencies in U.S. dollar equivalents on the basis of market exchange rates. The IMF reviews the composition of the SDR valuation basket at a minimum of five-year intervals. The last review was completed in November 2015 and the Chinese renminbi was included in the SDR valuation basket effective October 1, 2016. The specific amounts of the currencies in the basket were as follows:

SDR basket currencyOctober 1, 2016 to April 30, 2017Prior to October 1, 2016
Chinese renminbi1.0174
Euro0.386710.423
Japanese yen11.90012.1
Pound sterling0.0859460.111
U.S. dollar0.582520.660

At April 30, 2017, 1 SDR was equal to US$1.371020 (US$1.41733 at April 30, 2016). The next review of the method of valuation of the SDR will take place by September 30, 2021, unless developments in the interim justify an earlier review.

2.2 Use of estimates and judgment

The preparation of financial statements requires management to make judgments, estimates, and assumptions that affect the application of the accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected.

Information about the most significant estimates and critical judgments used in applying accounting policies is described in Note 3.

3. Summary of significant accounting policies

3.1 New International Financial Reporting Standards

The following amendments to existing standards issued by the IASB became effective in the financial year ended April 30, 2017. These amendments have no material impact on the SDR Department’s financial statements:

Amendments to IFRS 7 “Financial Instruments: Disclosures”, issued in September 2014 and effective for annual periods starting on or after January 1, 2016.

Amendments to IAS 1 “Presentation of Financial Statements”, issued in December 2014 and effective for annual periods starting on or after January 1, 2016.

The following new standard has been issued by the IASB and will be effective for annual periods starting on or after January 1, 2018:

In July 2014 the IASB published the complete version of IFRS 9 “Financial Instruments”, which replaced most of the guidance in IAS 39 “Financial Instruments: Recognition and Measurement”. The standard requires financial assets to be classified at fair value through profit or loss, fair value through other comprehensive income, or amortized cost on the basis of the entity’s business model for managing the assets and the contractual cash flow characteristics of the financial asset. No changes were introduced for the classification and measurement of financial liabilities except for financial liabilities designated at fair value through profit or loss. For these financial liabilities, changes in the fair value due to the changes in an entity’s own credit risk must be recognized in other comprehensive income. The incurred loss model of IAS 39 has been replaced by a forward-looking expected credit loss impairment model. The impact of the adoption of IFRS 9 on the SDR Department’s financial statements is being assessed.

3.2. Interest and charges

Interest is paid on holdings of SDRs, and charges are levied on each participant’s net cumulative SDR allocation at the SDR interest rate. Charges are also levied on any negative balance of the participant or unpaid charges (none during the years ended April 30, 2017, and 2016). If sufficient SDRs are not received because charges are overdue, additional SDRs are temporarily created. Interest and charges are settled by crediting and debiting the appropriate individual holdings accounts.

The SDR interest rate is determined weekly by reference to a weighted average of yields or rates on short-term instruments in the money markets of the SDR basket currencies as follows:

SDR basket currencyYield or rate
Chinese renminbi1Three-month benchmark yield for China Treasury bonds as published by the China Central Depository and Clearing Co., Ltd.
EuroThree-month spot rate for euro area central government bonds with a minimum rating of AA published by the European Central Bank
Japanese yenThree-month Treasury Discount Bills
Pound sterlingThree-month Treasury Bills
U.S. dollarThree-month Treasury Bills

Starting October 1, 2016.

Starting October 1, 2016.

The SDR interest rate is subject to a floor of 0.050 percent and is rounded to three decimal places. The average interest rate was 0.185 percent and 0.051 percent per annum for the financial years ended April 30, 2017, and 2016, respectively.

3.3 Overdue obligations

An allowance for losses resulting from overdue SDR obligations would be created if a loss had been incurred. There were no overdue obligations and no losses have been incurred during the financial years ended April 30, 2017, and 2016.

4. Allocations and holdings

At April 30, 2017, cumulative allocations to participants totaled SDR 204.2 billion (SDR 204.1 billion at April 30, 2016). Participants can use and receive SDRs in transactions and operations between themselves and with prescribed holders and the GRA. As a result, participants’ holdings may be greater or less than their allocations. Participants with holdings below their allocations have a net obligation to the SDR Department, which is presented as an asset in the Statements of Financial Position. Participants with holdings in excess of their allocations have established a net claim on the SDR Department, which is presented in the Statements of Financial Position as a liability. Participants’ net SDR positions as of April 30, 2017, and 2016, were as follows:

20172016
Below allocationsAbove allocationsTotalBelow allocationsAbove allocationsTotal
(In millions of SDRs)
Cumulative allocations136,65767,501204,158133,56270,529204,091
Holdings of SDRs102,37972,438174,81797,73073,197170,927
Net SDR positions34,278(4,937)29,34135,832(2,668)33,164

The composition of SDR holdings as of April 30, 2017, and 2016, was as follows:

20172016
(In millions of SDRs)
Participants174,817170,927
General Resources Account28,25631,842
Prescribed holders1,0851,322
Total holdings204,158204,091

In accordance with the provision of the Fourth Amendment of the IMF’s Articles of Agreement, SDRs are held in escrow on behalf of participants with overdue obligations to the General Department and the Poverty Reduction and Growth (PRG) Trust. At April 30, 2017, SDR 20.3 million was held in escrow for Somalia (SDR 4.2 million) and Sudan (SDR 16.1 million) (SDR 86.7 million at April 30, 2016). These remaining amounts would be released to the participants upon the settlement of overdue obligations, and their allocations and holdings adjusted accordingly. Zimbabwe received SDR holdings of SDR 66.4 million previously held in escrow after settling its arrears in the PRG Trust in October 2016.

5. Related party transactions and administrative expenses

The GRA is a holder of SDRs and conducts operations and transactions with the SDR Department participants. The GRA’s holdings of SDRs amounted to SDR 28.3 billion and SDR 31.8 billion at April 30, 2017, and 2016, respectively.

The expenses of conducting the business of the SDR Department are paid by the IMF from the GRA, which is reimbursed by the SDR Department (SDR 6 million and SDR 7 million for the financial years ended April 30, 2017, and 2016, respectively). For this purpose, the SDR Department levies an assessment on all participants in proportion to their cumulative allocations at the end of each financial year.

Schedule 1: Statements of changes in SDR holdings for the financial years ended April 30, 2017, and 2016

(In millions of SDRs)

20172016
ParticipantsGeneral Resources AccountPrescribed holdersParticipantsGeneral Resources AccountPrescribed holders
Total holdings, beginning of the year170,92731,8421,322189,33813,6171,136
SDR allocation67
Transactions by agreement
Acquisitions7,6001759,085170
Sales(6,332)(1,443)(8,410)(846)
Settlement of financial obligations(44)44(100)100
Bridge loans11
GRA operations
Acquisitions in exchange for currencies of other members750(750)1,379(1,379)
Purchases5,092(5,092)3,134(3,134)
Repurchases(14)14(865)865
Repayment of borrowings782(782)
GRA charges(1,144)1,144(1,471)1,471
Service charges and commitment fees, net of refunds(220)220(205)205
Quota payments(845)845(20,943)20,943
Remuneration41(41)10(10)
Interest on borrowings33(33)18(18)
Other IMF-related operations
PRG Trust disbursements173(173)372(372)
PRG Trust loan repayments and interest2(806)806(631)631
PRG Trust borrowings(576)576(619)619
PRG Trust borrowing repayments and interest157(157)121(121)
Contributions to PRG Trust(4)4(54)54
Net SDR charges(36)(10)
Net SDR interest4311271
Reimbursement of expenses (including SDR assessment)(6)76(70)(7)57(50)
Total holdings, end of the year174,81728,2561,085170,92731,8421,322
Components may not sum exactly to totals because of rounding.

Participants without sufficient reserve assets to make their quota payment under the Fourteenth General Review of Quotas were provided with SDRs in loans by other participants. These loans were repaid on the same day.

The total PRG Trust loan repayments and interest for FY 2017 includes the settlement of overdue obligations (SDR 78 million) by Zimbabwe.

Components may not sum exactly to totals because of rounding.

Participants without sufficient reserve assets to make their quota payment under the Fourteenth General Review of Quotas were provided with SDRs in loans by other participants. These loans were repaid on the same day.

The total PRG Trust loan repayments and interest for FY 2017 includes the settlement of overdue obligations (SDR 78 million) by Zimbabwe.

Schedule 2: Allocations and holdings of participants at April 30, 2017

(In millions of SDRs)

Holdings
ParticipantNet cumulative allocationsTotalPercentage of cumulative allocationsAbove (below) allocations
Afghanistan, Islamic Republic of155.367.943.7(87.5)
Albania46.5140.9303.394.4
Algeria1,198.2898.475.0(299.8)
Angola273.0228.083.5(45.0)
Antigua and Barbuda12.50.21.3(12.3)
Argentina2,020.01,785.488.4(234.7)
Armenia, Republic of88.07.18.1(80.9)
Australia3,083.22,854.192.6(229.0)
Austria1,736.31,624.293.5(112.1)
Azerbaijan, Republic of153.695.962.4(57.7)
Bahamas, The124.454.043.4(70.4)
Bahrain, Kingdom of124.464.852.1(59.6)
Bangladesh510.4968.4189.7458.0
Barbados64.449.777.2(14.7)
Belarus, Republic of368.6371.8100.93.1
Belgium4,323.33,842.088.9(481.4)
Belize17.920.0111.92.1
Benin59.234.157.6(25.1)
Bhutan6.06.0100.1**
Bolivia164.1166.7101.62.6
Bosnia and Herzegovina160.92.51.6(158.4)
Botswana57.458.5101.81.0
Brazil2,887.12,597.990.0(289.2)
Brunei Darussalam203.5216.5106.413.0
Bulgaria610.9611.6100.10.7
Burkina Faso57.610.618.3(47.0)
Burundi73.82.43.3(71.4)
Cabo Verde9.20.88.8(8.4)
Cambodia83.988.4105.34.4
Cameroon177.315.58.8(161.7)
Canada5,988.15,637.594.1(350.6)
Central African Republic53.40.50.9(52.9)
Chad53.60.20.3(53.4)
Chile816.9540.866.2(276.0)
China, People’s Republic of6,989.77,194.4102.9204.7
Colombia738.3694.094.0(44.3)
Comoros, Union of the8.58.094.1(0.5)
Congo, Democratic Republic of the510.9107.621.1(403.2)
Congo, Republic of79.770.488.3(9.3)
Costa Rica156.585.154.4(71.5)
Côte d’Ivoire310.9147.747.5(163.2)
Croatia, Republic of347.3304.887.8(42.5)
Cyprus132.849.237.1(83.6)
Czech Republic780.2457.158.6(323.1)
Denmark1,531.51,430.093.4(101.5)
Djibouti15.20.74.4(14.5)
Dominica7.80.911.6(6.9)
Dominican Republic208.84.92.4(203.9)
Ecuador288.414.75.1(273.7)
Egypt, Arab Republic of898.5558.462.2(340.1)
El Salvador163.8165.6101.11.7
Equatorial Guinea, Republic of31.321.167.6(10.1)
Eritrea, The State of15.23.724.3(11.5)
Estonia, Republic of62.024.639.8(37.3)
Ethiopia, The Federal Democratic Republic of127.920.215.8(107.8)
Fiji, Republic of67.144.065.6(23.1)
Finland1,189.51,120.594.2(69.0)
France10,134.27,602.775.0(2,531.5)
Gabon146.7117.480.0(29.4)
Gambia, The29.83.110.3(26.7)
Georgia144.0146.3101.62.3
Germany12,059.211,716.297.2(342.9)
Ghana353.9120.834.1(233.1)
Greece782.45.40.7(776.9)
Grenada11.22.926.2(8.2)
Guatemala200.9120.960.2(80.0)
Guinea102.5137.1133.834.6
Guinea-Bissau13.613.297.2(0.4)
Guyana87.10.91.0(86.2)
Haiti78.545.057.4(33.5)
Honduras123.853.743.3(70.2)
Hungary991.111.41.2(979.6)
Iceland112.2111.899.6(0.4)
India3,978.31,064.926.8(2,913.4)
Indonesia1,980.41,118.456.5(862.0)
Iran, Islamic Republic of1,426.11,537.1107.8111.1
Iraq1,134.57.80.7(1,126.7)
Ireland775.4651.684.0(123.8)
Israel883.4779.688.3(103.8)
Italy6,576.15,144.578.2(1,431.6)
Jamaica261.6172.165.8(89.5)
Japan12,285.013,524.0110.11,239.0
Jordan162.163.439.2(98.6)
Kazakhstan, Republic of343.7348.5101.44.8
Kenya259.64.81.9(254.8)
Kiribati5.34.075.0(1.3)
Korea, Republic of2,404.42,156.189.7(248.3)
Kosovo55.443.478.4(12.0)
Kuwait1,315.61,327.3100.911.7
Kyrgyz Republic84.7134.7159.050.0
Lao People’s Democratic Republic50.737.874.7(12.8)
Latvia, Republic of120.8120.8100.0**
Lebanon193.3192.499.6(0.9)
Lesotho, Kingdom of32.934.3104.31.4
Liberia124.0153.7124.029.7
Libya1,072.71,624.6151.5551.9
Lithuania, Republic of137.2137.3100.00.1
Luxembourg246.6244.899.3(1.8)
Macedonia, former Yugoslav Republic of65.63.75.6(61.9)
Madagascar, Republic of117.113.311.4(103.8)
Malawi66.43.04.5(63.4)
Malaysia1,346.1821.861.1(524.3)
Maldives7.73.140.9(4.5)
Mali89.455.161.7(34.3)
Malta95.487.291.4(8.2)
Marshall Islands, Republic of the3.33.4101.1**
Mauritania, Islamic Republic of61.71.62.7(60.0)
Mauritius96.889.992.9(6.9)
Mexico2,851.22,239.678.6(611.6)
Micronesia, Federated States of4.86.2129.61.4
Moldova, Republic of117.710.79.1(107.0)
Mongolia48.842.988.0(5.8)
Montenegro25.818.170.1(7.7)
Morocco561.4548.597.7(12.9)
Mozambique, Republic of108.818.016.6(90.8)
Myanmar245.81.50.6(244.3)
Namibia130.44.73.6(125.7)
Nauru0.90.221.1(0.7)
Nepal68.11.21.8(66.9)
Netherlands, Kingdom of the4,836.64,481.392.7(355.3)
New Zealand853.8753.688.3(100.1)
Nicaragua124.574.760.0(49.9)
Niger62.939.262.3(23.7)
Nigeria1,675.41,499.689.5(175.7)
Norway1,563.11,380.788.3(182.4)
Oman178.898.555.1(80.3)
Pakistan988.6454.646.0(534.0)
Palau, Republic of3.03.0101.1**
Panama197.0128.265.1(68.8)
Papua New Guinea125.59.07.2(116.5)
Paraguay95.295.7100.60.5
Peru609.9531.287.1(78.7)
Philippines838.0846.7101.08.7
Poland, Republic of1,304.6300.123.0(1,004.6)
Portugal806.5535.466.4(271.1)
Qatar251.4271.5108.020.1
Romania984.8988.0100.33.2
Russian Federation5,671.84,823.385.0(848.5)
Rwanda76.855.572.3(21.3)
St. Kitts and Nevis8.54.755.6(3.8)
St. Lucia14.69.766.3(4.9)
St. Vincent and the Grenadines7.90.10.8(7.8)
Samoa11.19.282.8(1.9)
San Marino15.58.856.5(6.8)
São Tomé and Príncipe, Democratic Republic of7.10.33.9(6.8)
Saudi Arabia6,682.55,474.981.9(1,207.6)
Senegal154.841.526.8(113.3)
Serbia, Republic of445.010.02.2(435.1)
Seychelles8.35.161.0(3.2)
Sierra Leone99.5105.1105.65.6
Singapore744.2744.8100.10.6
Slovak Republic340.5185.354.4(155.2)
Slovenia, Republic of215.9162.675.3(53.3)
Solomon Islands9.93.231.8(6.8)
Somalia46.518.339.3(28.2)
South Africa1,785.41,492.583.6(292.9)
South Sudan, Republic of105.42.01.9(103.4)
Spain2,827.62,767.397.9(60.2)
Sri Lanka395.51.60.4(393.9)
Sudan178.0125.170.3(52.9)
Suriname88.127.631.3(60.5)
Swaziland, Kingdom of48.348.7101.00.5
Sweden2,249.01,992.488.6(256.6)
Switzerland3,288.03,204.497.5(83.7)
Syrian Arab Republic279.2282.2101.13.0
Tajikistan, Republic of82.122.127.0(59.9)
Tanzania, United republic of190.510.55.5(180.0)
Thailand970.3975.3100.55.0
Timor-Leste, Democratic Republic of7.73.444.0(4.3)
Togo70.36.59.2(63.8)
Tonga6.65.481.6(1.2)
Trinidad and Tobago321.1242.275.4(78.9)
Tunisia272.837.513.7(235.3)
Turkey1,071.3966.090.2(105.3)
Turkmenistan69.829.041.5(40.9)
Tuvalu1.71.164.3(0.6)
Uganda173.147.127.2(125.9)
Ukraine1,309.42,318.8177.11,009.3
United Arab Emirates568.4152.826.9(415.6)
United Kingdom10,134.27,665.475.6(2,468.8)
United States35,315.736,368.9103.01,053.2
Uruguay293.3215.173.3(78.2)
Uzbekistan262.8266.1101.33.3
Vanuatu16.31.37.9(15.0)
Venezuela, República Bolivariana de2,543.3311.512.3(2,231.7)
Vietnam314.8267.985.1(46.9)
Yemen, Republic of232.361.026.2(171.3)
Zambia469.1263.656.2(205.5)
Zimbabwe338.680.423.8(258.2)
Above allocation67,500.772,438.0107.34,937.3
Below allocation136,657.2102,379.174.9(34,278.1)
Total participants204,157.9174,817.1
Participants’ holdings held in escrow20.320.3
General Resources Account28,256.0
Prescribed holders1,084.9
204,178.2204,178.2
Components may not sum exactly to totals because of rounding.

Less than SDR 50,000.

Components may not sum exactly to totals because of rounding.

Less than SDR 50,000.

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