Central Banking

China rises to 8th in IMF vote rankings - cbank

China has risen in rankings to eighth from 11th in terms of capital provided to the International Monetary Fund, state media reported on Feb 13, 2001, citing a central bank spokesman. The elevation follows executive approval of an increase in China's special drawing rights or SDRs, the People's Bank of China spokesman said.

The IMF sources capital from its member nations, allowing those countries to draw on their SDRs or borrow currency in proportion to their contribution to avoid or soften

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