Editing Reserve currency (section)

===Special drawing rights===
Some have proposed the use of the [[International Monetary Fund]]'s (IMF) [[special drawing rights]] (SDRs) as a reserve. The value of SDRs are calculated from a basket determined by the IMF of key international currencies, which as of 2016 consisted of the [[United States dollar]], [[Euro]], [[Japanese yen]], [[Pound sterling]] and [[Renminbi|PRC Renminbi]].

Ahead of a [[G20]] summit in 2009, China distributed a paper that proposed using SDRs for clearing international payments and eventually as a reserve currency to replace the U.S. dollar.<ref>{{cite news|url=https://www.reuters.com/article/wtUSInvestingNews/idUSLJ93633020090319 |title=China backs talks on dollar as reserve -Russian source, Reuters, 19 March 2, 2009 |publisher=Reuters.com |date= 19 March 2009|access-date=22 August 2010}}</ref>

On 3 September 2009, the [[United Nations Conference on Trade and Development]] (UNCTAD) issued a report calling for a new reserve currency based on the SDR, managed by a new global reserve bank.<ref>{{cite web |url=http://www.unctad.org/Templates/Webflyer.asp?intItemID=1397&docID=11867 |title=UNCTAD Trade and Development Report 2009 |publisher=Unctad.org |date=6 October 2002 |access-date=22 August 2010 |archive-date=8 March 2012 |archive-url=https://web.archive.org/web/20120308125757/http://www.unctad.org/Templates/Webflyer.asp?intItemID=1397&docID=11867 |url-status=dead }}</ref> The IMF released a report in February 2011, stating that using SDRs "could help stabilize the global financial system."<ref>{{cite news |url=https://money.cnn.com/2011/02/10/markets/dollar/ |title=IMF calls for dollar alternative |first=Ben |last=Rooney |work=CNN Money |date=10 February 2011}}</ref> The SDR itself is only a minuscule fraction of global currency reserves.<ref name="fore_LetC">{{Cite web |title=Let China Join the Global Monetary Elite |last=Kennedy |first=Scott |work=Foreign Policy |date= 20 August 2015|access-date=20 April 2021 |url= https://foreignpolicy.com/2015/08/20/china-currency-imf-special-drawing-rights-renminbi/}}</ref>