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Sat, May 05, 2007 - Page 10 News List

ADB urges foreign reserve spending

TOO MUCH IN RESERVE The Asian Development Bank's chief economist said that guarding against speculative attacks should be dropped in favor of helping the poor

AFP , KYOTO, JAPAN

Kuroda also urged China to embrace further currency flexibility to allow an appreciation of the yuan.

"I think the Chinese authorities have made the currency gradually more flexible and I think this trend would and should continue. Greater exchange rate flexibility would be in the interest of the Chinese economy," he said.

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