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Story summary
- The IMF, led by Managing Director Kristalina Georgieva, urged China to let the renminbi strengthen and shift toward domestic consumption.
- This marks a shift from the IMF's prior call for currency flexibility without endorsing a stronger renminbi.
- During a recent visit to China, Georgieva said the IMF is not urging Beijing to intervene in markets.
- China's response to the IMF's assessment is pending and will appear in a forthcoming report.
