Japan offers conditional support to yuan joining IMF currency basket
TOKYO – Japanese Finance Minister Taro Aso on Tuesday offered conditional support to China’s yuan joining the International Monetary Fund’s currency basket.
“The IMF will scrutinise whether the Chinese yuan meets the conditions for joining the currency basket,” Aso told a news conference.
“It’s a good thing to see an increase in the number of currencies deemed trustworthy” enough to join the IMF’s Special Drawing Rights (SDR) basket, he said.
IMF staff are set to give the all-clear for China’s yuan to be included in the lender’s benchmark currency basket, laying the groundwork for a favourable decision by policymakers, people familiar with the discussions have told Reuters. -Reuters