The Treasury Department is about to gift up to $650 billion to the International Monetary Fund (IMF) as part of so-called “currency aid” to countries hit hardest by the pandemic. But the United States has been giving away U.S. dollars to the IMF for decades. In the past, the Chinese Communist Party has gotten a lot of the money—not exactly a charity case.
Joseph Trevisani, Senior Analyst at FX Street, says he’s been hearing about these IMF Special Drawing Rights since graduate school. NTD asked him if China could get some of this $650 billion.