The International Monetary Fund (IMF) announced on Thursday that countries may use the Chinese yuan to settle their debts with their organization after Argentina paid part of its dues to the IMF in yuan in June.
The International Monetary Fund announced on Thursday that countries may use the Chinese yuan to settle their debts with their organization after Argentina paid part of its dues to the IMF in yuan in June.in a press conference held in Washington that the Chinese yuan is one of the five currencies that countries may use to settle their debts with the organization.created by the organization in 1969 to supplement other reserve assets of member countries.
Kozack described Argentina’s yuan payment to the IMF as a “standard practice” that any member country of the organization may employ.
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