By InvestAdvocate Lagos (INVESTADVOCATE)-The International Monetary Fund (IMF) said on Tuesday global growth is projected to slow to 3.1 percent in 2016 before recovering to 3.4 percent in 2017. “The forecast, revised down by 0.1 percentage point for 2016 and 2017 relative to April, reflects a more subdued outlook for […]
World News
China’s Yuan Achieves Milestone, Becomes A Global Reserve Currency
Culled—Proshare China’s Yuan officially enters the International Monetary Fund’s basket of reserve currencies Saturday, a telling trophy in the transformation of the Asian giant’s geopolitical status. Along with the dollar, the euro, the yen and the pound, the yuan will now be used as one of the IMF’s official lending […]
IMF Launches New SDR Basket Including Chinese Renminbi, Determines New Currency Amounts
September 30, 2016/IMF Today, the International Monetary Fund (IMF) announced the launch of the new Special Drawing Right (SDR) valuation basket including the Chinese renminbi (RMB), and the new currency amounts that will determine the value of the SDR during the new valuation period. As approved by the Executive Board […]
