China market turmoil shouldn't affect SDR decision, Lagarde says

christine-lagarde-shutterstock-128496710
Christine Lagarde

IMF managing director Christine Lagarde has defended the Chinese government's rush to prop up the country's tumbling stock market, suggesting the events of the past month are unlikely to affect the IMF's decision on whether to include the renminbi in its special drawing rights (SDR) basket later this year.

"No one should be surprised by the fact that [the Chinese authorities] want to maintain an orderly movement" in the market, Lagarde said at her first-ever virtual press conference on Wednesday

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: