China allows IMF to publish full report for the first time

The Chinese government will for the first time allow the IMF to publish its full report on the country’s economy, Dow Jones Newswires reported. The organization produces its staff review, known as an Article VI report, on a regular basis but until now Beijing has always blocked its publication. The IMF’s latest report grabbed media attention this week for reducing the evaluation of China’s currency from "substantially undervalued" to "undervalued," and exposing sharp disagreement between IMF directors on the appropriate value of the renminbi. The decision to allow the publication may also be the result of China’s recent injection of US$50 million into the bank’s coffers, and the appointment of Min Zhu as special advisor to the IMF managing director. The IMF staff review will be released on Friday morning.