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IMF chief praises China's efforts to shift growth model

(Xinhua)
Updated: 2009-11-18 10:09

Dominique Strauss-Kahn, managing director of the International Monetary Fund(IMF), said Tuesday the Fund fully supports China's efforts to shift its growth model "from heavy reliance on exports toward private consumption."

"Chinese government strategy will be good not only to Chinese people but also to the world economy," said the IMF chief at a press conference in Beijing.

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Meanwhile, he noted his personal gratitude to China for its continued support for the IMF. He said the IMF and China have unique opportunities to improve the international monetary system, and "to make it more balanced and take into account more currencies apart from US dollar and make some rules for the Special Drawing Rights (SDR) issued by the IMF."

Strauss-Kahn also said IMF management needed more officials from developing world like Africa, Latin America and Asia.

He stressed the importance of international cooperation in fighting the financial crisis. He said the global economy appears to have avoided the worst.

"This was no accident. In fact, it was the result of the unprecedented policy of collaboration that encompassed more countries than ever before".