For all the happy talk over the $1 trillion pledged to the IMF for emerging market relief, it's looking increasingly unlikely that that money will manifest. The pledge didn't include specifics on how the money would be offered, other parts of the relief package were double-counted from existing promises, and a big chunk of the rest was the Special Drawing Rights currency that would, it seems, require congressional approval for America to fund. And I'm sure that no one in Congress would demagogue the release of tens of billions for an alternative global reserve currency. Details here.
