Zev Porat

Tuesday, November 17, 2015

GLOBAL-CURRENCY PLAN GETS BOOST FROM IMF U.N. backs effort to replace U.S. dollar as choice of trade

Global-currency plan gets boost from IMF

NEW YORK – A decision last week by the International Monetary Fund to accept reserve-currency status for China's yuan advances a developing plan backed by the United Nations to replace the dollar as the world's reserve currency. Last Friday, IMF Managing Director Christine Lagarde endorsed a staff recommendation to include China's yuan in the basket of…

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