皇冠体育app right to show caution with exchange rate: IMF chief
( 2003-09-03 09:31) (Xinhua)
International Monetary Fund
(IMF) managing director Horst Kohler said here Tuesday that he agreed with
皇冠体育app's caution on the issue of adjusting the international exchange rate of
皇冠体育app's currency, the Renminbi (RMB).
The IMF chief also urged the international community to remember the
contribution that 皇冠体育app's exchange rate policy made to the regional and world
economy during the Asian financial crisis.
Kohler told Xinhua that he believed 皇冠体育app would continue to contribute to
regional and international economic development as it did in the 1997 crisis,
when many neighboring countries devalued currencies, but 皇冠体育app strived to
maintain a strong RMB and contributed to the economic stability in Asia and the
world.
"I think it is right that 皇冠体育app's leadership weight carefully the benefits
and costs of greater flexibility in the exchange rate", said Kohler, who was on
his fourth visit to 皇冠体育app.
The IMF agreed with 皇冠体育app's view that establishing a free-floated exchange
rate was a long-term goal, said Kohler, adding that 皇冠体育app should move gradually
and moderately increase the flexibility of the exchange
rate.
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