Noyer: IMF’s decision on SDR not politically motivated
Banque de France governor says composition is based on technical work
When the International Monetary Fund decides on the composition of its special drawing rights (SDR), it "should not be seen as politically inspired or motivated", according to Banque de France governor Christian Noyer.
Speaking in Montréal on June 8, Noyer drew a distinction between a reserve currency and a global currency, noting that one must act as a store of value, the other as a medium of exchange. "A currency may be widely used in transactions without being considered for reserve
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