Special drawing rights—The result of Rio

To overcome the lack of international liquidity, those who attended the Rio de Janeiro monetary conference agreed to introduce special drawing rights. This measure stemmed from an initiative taken by the Group of Ten. It is considered a milestone in international monetary policy. INTERECONOMICS was able to interview Dr Otmar Emminger, member of the Board of Governors of the Deutsche Bundesbank and Chairman of the working party of the Group of Ten, about the reasons for introducing this new instrument and its probable effects.