Nowa międzynarodowa jednostka walutowa „prawo do specjalnego ciągnienia" MFW
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Date
1971
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Publisher
Wydział Prawa i Administracji UAM
Title alternative
The New International Unit: Special Drawing Rights in the International Monetary Fund
Abstract
The subject under consideration is the conception and significance of special
drawing rights and the main reason for the introduction of the new international
monetary unit. Also indicated is the fundamental difference between the drawing
rights and the spacial drawing rights.
To meet the need as and when it arises for supplement to existing reserve
assets the Fund is authorized to allocate special drawing rights to members that
are participants in the Special Drawing Account. The new international unit,
commonly known as SDR (Special Drawing Rights) or gold paper was introduced
in January 1970. It's parity is 0,88671 g of fine gold, thus equal to the US dollar.
It is expressed in dollars but not US dollars. It is issued by the IMF. The grounds for issuing is mutual committance of the participants in the Special Drawing
Account, to use the SDR as a means of payment in international settlement of
payments. The introduction of SDR constitutes a further step in demonetization of
gold, but does not yet mean its full demonetization. SDR is demonetized gold,
despite its parity in gold. Here gold plays the role of a yardstick of international
measure of values.
The introduction of SDR has positive influence on international liquidity
thanks to the possibility for supplement to existing reserve assets. Though reducing
it does not however, eliminate all the difficulties of those countries which have
a long-standing debit balance of payments.
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Digitalizacja i deponowanie archiwalnych zeszytów RPEiS sfinansowane przez MNiSW w ramach realizacji umowy nr 541/P-DUN/2016
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Citation
Ruch Prawniczy, Ekonomiczny i Socjologiczny 33, 1971, z. 1, s. 223-240