China Invited to Join IMF Currency Basket

December 3, 2015

The Executive Board of the International Monetary Fund (IMF) confirmed on Monday 30 November that it would be inviting China to join the other four currencies included in its Special Drawing Rights (SDR) basket, in what has been heralded as a landmark move for Beijing. “The Executive Board’s decision to include the [renminbi] in the SDR basket is an important milestone in the integration of the Chinese economy,” said IMF Managing Director Christine Lagarde said on Monday.

 

[This news item is a product of Bridges News, a leading source of objective and timely information on trade and sustainable development.]

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Topics: INTERNATIONAL MONETARY FUND (IMF)

Regions: CHINA

Authors: INTERNATIONAL CENTRE FOR TRADE AND SUSTAINABLE DEVELOPMENT (ICTSD)

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