World Economy

IMF Team to Assess Yuan

IMF Team to Assess YuanIMF Team to Assess Yuan

A team from the International Monetary Fund has arrived in Beijing to assess whether the yuan should be included in the Special Drawing Rights basket, according to a statement from the Washington-based organization, Xinhua reported. Data collection and analysis for this year’s review of the SDR basket has started, and the IMF team will discuss technical issues with Chinese officials, according to the statement.

IMF Deputy Managing Director Zhu Min said earlier that the preliminary results for the technical discussion will be released as early as July. The SDR basket, which was created in 1969, is reviewed every five years.