Otaviano Canuto talks about RMB joining SDR basket

It took several years of deliberation before the inclusion of China’s Renminbi in the SDR basket was approved by the International Monetary Fund’s board of directors. RMB’s global reserve status also means it will become the first emerging market currency that can be used to settle IMF credits and debts, and the World Bank’s Executive Director, Otaviano Canuto, calls the move a “win-win for China and the world.”