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12.08.2015 08:13 International Monetary Fund (IMF): the yuan devaluation is “a welcome step”

The International Monetary Fund (IMF) said on Wednesday that the yuan devaluation was "a welcome step".



"Greater exchange rate flexibility is important for China as it strives to give market forces a decisive role in the economy and is rapidly integrating into global financial markets," the IMF statement said.



The IMF noted that China should "achieve an effectively floating exchange rate system within two to three years".

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