IMF Tips Hat To China For Chipping Away At Yuan Imbalance

Law360, New York (June 8, 2012, 4:13 PM EDT) -- The International Monetary Fund on Friday commended China for making inroads to reduce the undervaluation of its currency, saying the nation had made “significant progress” in tackling its skewed international trade profile.

IMF First Managing Director David Lipton complimented China for its progress during a speech in Beijing at the international economic organization's policy consultation with the nation.

“Over the past several years, China has made significant progress in reducing external imbalances,” Lipton said, pointing to the country's decreased current account surplus and increase in value...
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