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Posted On

05
May
2022

Michel supports idea of transferring 10% SDR to Ukraine

BRUSSELS. May 5 (Interfax-Ukraine) – President of the European Council Charles Michel speaks out in support of the idea of transferring 10% of Special Drawing Rights (SDR) to Ukraine.

"I think in deed this option is an interesting option, and we must look at that in order to see if it’s possible and for which member states it will be possible to take such a decision," Michel said in an exclusive interview with Interfax- Ukraine.

According to him, he discussed this topic directly with the president (Volodymyr Zelensky) and mentioned support for this idea. "We are in closed contact with the IMF and also with different countries across the world and also across the EU."

Speaking about a possible legal solution to this issue, the President of the European Council recalled that it is within the competence of the member states. "It is a decision of the member states on the national level, but in my capacity as Chair of the European Council, and Ukrainian friends know that they can count on me in order to support this. Is it immediately 10% or we will start with 5% and will try to raise more – the exact modality, we should see what is possible, what is realistic, of course. But you understand I’m supporter of this idea," Michel said.