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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