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IMF membership divided on China currency -official

Published 07/23/2009, 09:26 AM
Updated 07/23/2009, 09:32 AM

WASHINGTON, July 23 (Reuters) - IMF member countries generally agree that a stronger Chinese currency would boost consumption but are divided over the extent such a move would contribute to a rebalancing of growth, a senior IMF official said on Thursday.

IMF mission chief to China Nigel Chalk said that given the global economic climate IMF staff did not put a precise estimate of how much the yuan was undervalued.

"But we do see a stronger renminbi as an important part the broader policy package," Chalk told a conference call with reporters. (Reporting by Lesley Wroughton; Editing by James Dalgleish)

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