IMF chief favours bigger role for SDRBEIJING, Nov 16 (AFP) - The head of the IMF said on Monday that he liked the idea of eventually using a basket of currencies to denominate trade and backed a bigger role for the Special Drawing Right.
Dominique Strauss-Kahn, the managing director of the International Monetary Fund, told a student audience in Beijing that the idea of building up the role of the SDR, a basket of four major currencies, over the next 10-15 years was a good one.
Chinese central bank governor Zhou Xiaochuan proposed in March a beefed-up role for the SDR, now used only as the IMF's in-house unit of account, saying it could eventually replace the dollar as the dominant global reserve currency.
and ..
Dollar to dominate at least for a decade-IMF head
BEIJING, Nov 16 (AFP) - The dollar will still be the world's dominant currency in 10 years' time because the United States will still be the world's most important economy, the head of the IMF said on Monday.
However, Dominique Strauss-Kahn, the managing director of the International Monetary Fund, said he could not see 30 or 40 years into the future.
Answering questions put by university students, Strauss-Kahn said the outlook for the global economy remained fragile.
