China market turmoil won't affect SDR decision, says Lagarde
IMF chief defends efforts to prop up stock market
International Monetary Fund (IMF) managing director Christine Lagarde has defended the Chinese government's rush to prop up the country's tumbling stock market, suggesting the past month's events will not affect the IMF's decision on whether to include the renminbi in its special drawing rights (SDR) basket later this year.
"No-one should be surprised by the fact that [the Chinese authorities] want to maintain an orderly movement" in the market, Lagarde said at her first-ever virtual press
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