AfDB: SDR bond makes ‘perfect sense’

Renminbi-box(230x150)
By Craig McGlashan
24 Oct 2016

The African Development Bank could follow the lead of the World Bank in issuing a bond denominated in special drawing rights, its treasurer has told GlobalCapital.

World Bank sold an SDR500m ($700m) three year note in China in August, a month before the renminbi was included in the International Monetary Fund’s SDR basket. World Bank’s SDR bond is payable in renminbi.

AfDB could bring a similar deal — or even a debut renminbi ...

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