1. With reference to the Statutory Drawing Rights of the IMF, consider the following statements:
- 1.The SDR is an international reserve asset, created by the IMF to supplement its member countries’ official reserves.
- 2.The value of the SDR is based on a basket of five currencies—the U.S. dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling only.
- 3.The SDR is neither a currency nor a claim on the IMF, but it is a potential claim on the freely usable currencies of IMF members.
Which of the statements given below are correct?