IMF say conditions favourable on China rate reform

International Monetary Fund spokesman Thomas Dawson said that China is now ready and able to reform its exchange rate system, and it is in its best economic interest for it to do so.

Dawson said the Fund currently has a team on the ground analyzing the Chinese economy and they will report back soon.

'I can only repeat all we have indicated for some time. A flexible exchange rate arrangement would be in China's interest,' he told reporters in a regular briefing.

Setting aside the yuan's peg to the

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