Every country has their own currency, and they print more money, increasing the price of everything, that's inflation.

But the thing is that there's a whole level on top of that money creation out of thin air. The IMF.

The IMF can also print out infinite money out of thin air, and they do it with SDR, which is basically a proto-currency basket made out of USD, EURO, Yuan, Yen, and Pound.

For example:

August 2, 2021: IMF Governors Approve a Historic US$650 Billion SDR Allocation of Special Drawing Rights

That means that the people in the IMF simply decided that it was a good idea to create more SDRs, $650 Billion worth of it.

After printing this proto-money, the IMF distributes it proportionally to the countries with the largest amount of investment in it. The US gets 17.43% of the entire thing, whereas El Salvador gets 0.06% for example.

Then, countries that cannot afford to pay their quotas(IMF membership fees) need to get a loan from the IMF and they have to pay interest on, here's the list of countries.

I don't know how they can simply loan money that they just created out of thin air, and then charge interest for it. But at the end of the day, rich countries get paid out of thin air for free, and poor countries need to get a loan, and pay interest with real money.

Insane really.