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IMF to discuss delayed China report on July 8

Thu Jul 2, 2009 10:35am EDT

WASHINGTON, July 2 (Reuters) - The International Monetary Fund's board will discuss a long-delayed assessment of China's economy on July 8, an IMF spokeswoman said on Thursday.

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The report, an annual review the IMF conducts with all of its member countries, has been delayed since 2007 after Beijing objected to changes in the IMF's currency rules, which China saw as a ploy by the United States to enlist the fund in its campaign for a stronger yuan.

This week the IMF softened guidelines on how it evaluates exchange rate policies of member countries, a move widely seen as conciliatory toward Beijing.

The report will include the IMF's assessment of China's exchange rate policy, and a source who has seen a draft of the report said it will determine that the yuan is "significantly undervalued".

(Reporting by Lesley Wroughton; Editing by Chizu Nomiyama)

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