IMF Hints Allowing Countries to Use Chinese Yuan for Debt Repayment

IMF Hints Allowing Countries to Use Chinese Yuan for Debt Repayment
Chinese 100 yuan notes and one U.S. dollar notes in Beijing on Jan. 6, 2017. Fred Dufour/AFP via Getty Images
Aldgra Fredly
Updated:
0:00

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.