By Reuters Staff
1 Min Read
FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas
TOKYO/LONDON (Reuters) - G7 advanced economies are still discussing a proposal to boost International Monetary Fund reserves for pandemic relief, several sources close to the discussion said on Wednesday, dismissing a report that a deal had been reached.
Earlier, Japan’s Kyodo news agency reported they had secured agreement for increased reserves of around $650 billion through a new allocation of the fund’s special drawing rights ahead of a meeting of G7 finance leaders to be hosted by Britain on Friday.
By Reuters Staff
1 Min Read
FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas
TOKYO/LONDON (Reuters) - G7 advanced economies are still discussing a proposal to boost International Monetary Fund reserves for pandemic relief, several sources close to the discussion said on Wednesday, dismissing a report that a deal had been reached.
Earlier, Japan’s Kyodo news agency reported they had secured agreement for increased reserves of around $650 billion through a new allocation of the fund’s special drawing rights ahead of a meeting of G7 finance leaders to be hosted by Britain on Friday.
The World Trade Organization director-general said on Monday that the WTO was concerned about Nigeria's foreign exchange management and how it had been used to support manufacturing, exports and imports.
At least one major state-owned Chinese bank is conducting large currency swaps in mainland markets, possibly as part of efforts to cap the yuan, as domestic banks deal with a heavy influx of dollars, eight sources with knowledge of the matter told Reuters on Tuesday.