IMF chief welcomes more yuan flexibility

WASHINGTON, June 19 (BestGrowthStock) – The head of the IMF,
Dominique Strauss-Kahn, on Saturday welcomed China’s
announcement to make the yuan more flexible, saying it will
boost Chinese household incomes and domestic investment.

In a statement, Strauss-Kahn said a stronger yuan was in
line with findings of a mutual assessment report being
presented by the IMF at the Group of 20 leaders’ summit in
Toronto next week.

He said a more flexible yuan will “help increase Chinese
household income and provide incentives necessary to reorient
investment toward industries that serve the Chinese consumer.”

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(Reporting by Lesley Wroughton; Editing by Doina Chiacu)
([email protected] +1-202-898-8317; Reuters
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IMF chief welcomes more yuan flexibility