I Get By With Alittle Help From My Friends....
Would you like to react to this message? Create an account in a few clicks or log in to continue.
I Get By With Alittle Help From My Friends....

Dinar Outcast


You are not connected. Please login or register

China yuan 'substantially undervalued'-IMF official

Go down  Message [Page 1 of 1]

littlekracker



China yuan 'substantially undervalued'-IMF official



WASHINGTON | Wed Jul 28, 2010 9:45am EDT

WASHINGTON July 28 (Reuters) - International Monetary Fund staff believe the yuan is "substantially" undervalued based on expectations that China's current account surplus will increase as the global economic recovery gains strength, a senior IMF official said on Wednesday.

The IMF's mission chief to China Nigel Chalk told a conference call that IMF staff believe the current account will "reassert itself" over the next five years, as exports pick up and the authorities withdraw fiscal stimulus measures.

He said the Chinese authorities had disagreed with the staff's assessment that the current account surplus will reach 8 percent of gross domestic product over the next 5 years. (Reporting by Lesley Wroughton; Editing by Theodore d'Afflisio)

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum