IMF official says 'no evidence' China manipulating currency
Updated : July 25, 2018 06:36 AM IST
The comments by IMF chief economist Maury Obstfeld came after US President Donald Trump accused China and the European Union of keeping their currencies artificially weak to make their exports more competitive.
Other factors in the Chinese economy are putting pressure on the currency, he said, including lower growth, lower interest rates "and threats of tariffs against China."
Germany also remained on the watch list because it "has the world's largest current account surplus" and has made "little to no progress in reducing this massive surplus the past three years."
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