What is ‘ Paper Gold’ ?

 In the functioning of the International Monetary Fund, twenty-year after its inception in 1967 a new form of medium of payment was introduced in the shape of Special Drawing Rights. It was the added facility given to the members who agreed to gain from it. These days the IMF accounts and transactions are maintained and conducted in  SDR (Special Drawing Right) unit. These SDR units are termed ‘Paper Gold’.   

Leave a Comment