With the support of the United States for a new issuance of Special Drawing Rights, it's looking more likely that African nations will have this funding source to help finance their COVID-19 recoveries, including vaccine purchases.
Ahead of Friday’s meeting of the G-20 group of countries, U.S. Treasury Secretary Janet Yellen issued a letter in support of a new distribution of SDRs, reserve assets issued by the International Monetary Fund, to countries.
The African Union has been advocating for the use of SDRs as a way for countries to fund vaccine rollouts and broader economic recovery efforts.