CAPA has joined over 110 organizations including Action Corps, Bread for the World, Oxfam, and Save the Children US to support a major issuance of Special Drawing Rights (SDRs) by the International Monetary Fund (IMF). SDRs are a type of international currency that are in reserve for emergencies such as this global pandemic. This issuance would come at NO COST to American taxpayers, and we must ensure this issuance to support the global economy and save lives.
Reps. Garcia and Schakowsky have introduced legislation in the house (H. 6581), and Sen. Durbin has introduced legislation in the Senate (S. 4139) for international funding for COVID relief – with no cost to American taxpayers. Now Congress and the White House should enact these provisions in the next COVID stimulus package.
CAPA has been a vital voice in supporting this work since the beginning of the pandemic. We’ve been in constant contact with US legislators from the Chicago area to urge them forward in the critical push for special drawings.
You can learn more about this solution and special drawings rights at GlobalCOVIDResponse.org