China wants to follow rules on currency basket: IMF official | Reuters

China wants to follow rules on currency basket: IMF official | Reuters can the IMF include the RMB in SDRs without US approval, if the percentage is below a certain threshold? Could the US be setting itself up for a redux of the AIIB debacle?  //  The IMF, which is due to review the basket's composition later this year, must deem any new currency "freely usable," or convertible - seen as a key obstacle for the yuan, also known as the renminbi. But the Fund also could change its criteria, or have a phased entry for the renminbi after it meets the standards, as some officials have suggested. "I can tell you that the Chinese have been quite clear in saying that they understand the broad rules that apply, and they wish to qualify under the current criteria," IMF First Deputy Managing Director David Lipton said in an interview during the spring meetings of the IMF and World Bank in Washington.http://www.reuters.com/article/2015/04/18/us-imf-g20-china-idUSKBN0N90M220150418?utm_source=The+Sinocism+China+Newsletter&utm_campaign=562f93bee4-Sinocism04_19_15&utm_medium=email&utm_term=0_171f237867-562f93bee4-29615013&mc_cid=562f93bee4&mc_eid=5935182a65