RMB should be included as soon as possible IMF SDR.

<P Align=center> </ P> <P> </ P> <P> local time on June 28, International Monetary Fund (IMF), Mr Kahn said that the yuan continued to rise in China's interest, but it is not .redress the trade imbalance panacea. .He also hoped that the yuan "as soon as possible" into the special drawing rights (SDR) basket of currencies, the yuan exchange rate must first be determined by the free market. .</ P> <P> Kahn told reporters at a press conference that he believed that with the booming Chinese economy, the RMB will be the driving force into the SDR. .</ P> <P> Kahn said: "I think the real exchange rate pricing by the market to achieve some form of free-floating before the yuan is still difficult to enter the SDR system." However, Kahn believes that this process will .will be very short. ."The passage of time, SDR, more and more into other currencies reason to accept the yuan will be the starting point of this process." </ P> <P> China, Russia, Brazil and IMF now hope that the increased use and promotion of SDR .. .SDR is a supra-national reserve assets of the U.S. dollar, euro, yen and pound to a basket of currency composition, is an IMF member assigned to the right of use of funds. .</ P> <P> generous in IMF aid to Greece, their shortage of funds have emerged. .IMF Policy Steering Committee in charge, the Egyptian Finance Minister Ghali said earlier, IMF may have to issue more SDR, to raise funds from members, or will the yuan to a basket of currencies in the SDR as a member. .</ P> <P> Goldman Sachs economist Michael Buchanan, chief Asia-Pacific region, taking into account China's export share and the share as a reserve currency will increase in the future, on the whole, the total share of RMB future will account for SDR .25%. .</ P> <P> and at the weekend the Group of 20 (G20) during the Toronto summit, IMF reform problems of concern. .Kahn said the IMF after the reform, China's seat will have increased significantly. .</ P> <P> Kahn said the increase in emerging countries, especially as emerging Asian countries such as China's role in the IMF, the right to speak, seats, etc., is the IMF at the end of this year to achieve the goal. .Increase China's seat is a natural thing, because China's economy expanded rapidly in China should give more space. .Not only in China, some other countries of the seats will increase, such as India and Brazil. .Therefore, some developed countries must give up some of their own seats in order to maintain the balance of seats IMF. .</ P> <P> At the same time, Kahn also praised China's decision to further promote the exchange reform, and that the rapid appreciation of the renminbi will not, "but policy changes will be gradually modified the case of an undervalued exchange rate." .Kahn believes that the appreciation of the renminbi in China's interest to continue, but this is not the panacea for China-US trade imbalance. .(Source: People's Daily Online - International Finance News) </ P>.