The G20 Meetings: Financial Salvation for Emerging Markets?

At the G20 meetings in London, finance ministers agreed on an unprecedented package of financial support for emerging countries: US$250 billion in new direct G20 financing commitments to the IMF, with a commitment to come up with another US$250 billion; around US$100 billion in new Special Drawing Rights (SDRs) for emerging market (EM) countries as a part of a US$250 billion global allocation (at the risk of oversimplifying, the IMF is essentially “printing money” and handing it out in proportion to member quotas.