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

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

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