China, a country with the world's largest foreign currency reserve, does not intend to abandon the dollar as reserve currency, said Deputy Foreign Minister He Yafei of China at a briefing in Beijing.
"No one said that the drop of dollar bills. I think that in current circumstances, it is unreal," - said a diplomat in response to a question about the intention of BRIC the summit on 16 June in Yekaterinburg to discuss the possibility of finding an alternative to the dollar as a reserve currency.
Replying to a question about the possibility of creating a "supra-national currency", He Yafei said that "at present this issue is addressed at the expert level."
Talking about the purpose of the forthcoming summit, He Yafei said that it aims to expand the scope of understanding and cooperation in overcoming the global crisis.
He also said that the summit will discuss the reform of the global financial system.
At the St. Petersburg Economic Forum head of the Ministry of Finance of Russia Alexey Kudrin, pondering on the possible new world reserve currency: it can become a Chinese yuan. Making the last payment in a single unit will take at least 10 years, but the prospects of the Russian currency in this role, the Minister applies skeptical - to start, he believes, it is necessary to ensure the stability of the ruble, and then pursue a tough monetary policy, Kudrin suggested.
Head of Finance also called on to adjust the International Monetary Fund (IMF) and redistribute it the largest share of votes. "The percentage of votes in the IMF United States - 15%, while China has a share of less than some European countries", - he said, adding that the fund is not a real representative of the interests of the leading economies.
China is the largest creditor of the United States, investing over the past decade, nearly 700 billion dollars in U.S. treasury bonds. Earlier this year, the head of the Central Bank of China Zhou Syaochuan suggested replacing the U.S. dollar as global reserve currency, multi-basket.
Russia, China and Brazil have recently been actively lobbying on the international market an alternative idea of the dollar and euro currency. The initiative will be discussed at the summit of BRIC in Yekaterinburg in the middle of June.
NEWSru.com
"No one said that the drop of dollar bills. I think that in current circumstances, it is unreal," - said a diplomat in response to a question about the intention of BRIC the summit on 16 June in Yekaterinburg to discuss the possibility of finding an alternative to the dollar as a reserve currency.
Replying to a question about the possibility of creating a "supra-national currency", He Yafei said that "at present this issue is addressed at the expert level."
Talking about the purpose of the forthcoming summit, He Yafei said that it aims to expand the scope of understanding and cooperation in overcoming the global crisis.
He also said that the summit will discuss the reform of the global financial system.
At the St. Petersburg Economic Forum head of the Ministry of Finance of Russia Alexey Kudrin, pondering on the possible new world reserve currency: it can become a Chinese yuan. Making the last payment in a single unit will take at least 10 years, but the prospects of the Russian currency in this role, the Minister applies skeptical - to start, he believes, it is necessary to ensure the stability of the ruble, and then pursue a tough monetary policy, Kudrin suggested.
Head of Finance also called on to adjust the International Monetary Fund (IMF) and redistribute it the largest share of votes. "The percentage of votes in the IMF United States - 15%, while China has a share of less than some European countries", - he said, adding that the fund is not a real representative of the interests of the leading economies.
China is the largest creditor of the United States, investing over the past decade, nearly 700 billion dollars in U.S. treasury bonds. Earlier this year, the head of the Central Bank of China Zhou Syaochuan suggested replacing the U.S. dollar as global reserve currency, multi-basket.
Russia, China and Brazil have recently been actively lobbying on the international market an alternative idea of the dollar and euro currency. The initiative will be discussed at the summit of BRIC in Yekaterinburg in the middle of June.
NEWSru.com
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