Categories: The Crunch

Global economic restructurings need to be managed, can be managed: IMF chief

Oct 13, 2015 During a press conference at the annual Meeting of the IMF and World Bank, Christine Lagarde, managing director of the IMF said the ongoing global economic restructurings needed to be managed closely. She also stressed the importance of increased communication and experience sharing among policymakers globally.

“The slowdown of growth is a phenomenon that was predictable, expected and anticipated, and we believe that it’s a good move… a growth model that is no longer based on either massive export relative to domestic massive investment projects as opposed to consumption is a good transition.”

The Fund’s deputy managing director Zhu Min also responded affirmatively when asked if the Chinese currency will be included in the IMF’s Special Drawing Rights basket.

“We review the basket composition of the Special Drawing Rights every five years. The current review is very clear, as it excludes all the other currencies but the RMB, which is the only currency to be reviewed this time. This in itself highlights the importance of the RMB. The process is still going on. If the RMB is added to the basket composition of SDR, it will mark a milestone status for the currency in the global economy as it means an international recognition of the RMB,”

Admin

Share
Published by
Admin

Recent Posts

LoveFest Valentine’s weekend at EbonyLife Place ignites a spark with lovers and loved ones alike

Friends and family rush to join couples celebrating the season of love with fine dining…

5 years ago

Funke Akindele-Bello and Akin Lewis are hilarious in new trailer for EbonyLife’s blockbuster, Your Excellency

Lagos, 8 November 2019 – EbonyLife Films, producer of Fifty, The Wedding Party movies and…

5 years ago

WildlifeDirect and EbonyLife TV Wildlife Warriors TV Series Partnership

Nairobi, November 01, 2019: First African produced Wildlife documentary series, from Kenya Wildlife Warriors goes…

5 years ago

Òlòtūré selected for official screening at prestigious Carthage Film Festival, Tunisia

Trailer now available for viewing ahead of cinema release in 2020 31 October 2019, Lagos,…

5 years ago

Hot new poster launches campaign for EbonyLife’s hilarious December blockbuster, Your Excellency

Funke Akindele-Bello and Akin Lewis head all-star cast Lagos, 7 October 2019 – EbonyLife Films,…

5 years ago