The International Monetary Fund (IMF) has hinted that it may accept the Chinese Yuan as a currency for countries to settle their obligations with the IMF following Argentina’s recent debt repayment in yuan.
IMF spokesperson Julie Kozack confirmed on Thursday that Argentina had paid off part of its debts—equivalent to $1.1 billion of the $2.7 billion that matured last month—with the IMF in Chinese currency.
“As we have stated in the past, the Argentine authorities continue to remain current on their financial obligations to the IMF,” Ms. Kozack said at a press briefing.
“The RMB is one of the five freely usable currencies that members can and have used to settle their obligations with the IMF,” she added, referring to the Chinese currency by its official name, the renminbi….