Serge Ekué, President of the West African Development Bank (BOAD ) a indiqué vendredi 18 octobre à Bruxelles qu' au-delà d' un instrument monétaire, les Special drawing rights (DTS) are a real lever for the development and increase of the capacities of credit banks.

On the sidelines of the Rebranding Africa Forum 2024, the President of the West African Development Bank (BOAD) defended an ambitious vision. That of transforming the Special Drawing Rights (SDRs) of the International Monetary Fund (IMF) into a lever to finance development projects in Africa, through the issuance of bonds by regional banks such as BOAD. “What we are proposing goes even further: the development bank issues a hybrid capital instrument and invites major investors such as France and Germany to subscribe using SDRs as an investment currency. It is a revolutionary idea. Using SDRs as an investment instrument in securities issued by regional development banks is a real revolution,” he proposed during his speech. His proposal is a new form of reorientation of SDRs, after the recent initiatives of the African Development Bank (BAD) and the Inter-American Development Bank (IDB), which are in the process of winning their case. This mechanism allows rich countries, holders of unused SDRs, to lend these funds to development banks. They can then raise up to four times the value of SDRs loaned in the form of loans to finance critical projects, particularly in the areas of food security and the fight against climate change