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Russia to place loans in yuan, says Deputy Finance Minister

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Russia to place loans in yuan, says Deputy Finance Minister

Under relative market conditions, Russia might place loans in yuan, Deputy Finance Minister Sergei Storchak told TASS reporter following the annual meeting of the International Monetary Fund in Washington.


Sergei Storchak pointed out that this will be possible in case it was convenient technologically, as well as in terms of price. At the same time, he ruled out connection with the IMF decision to officially include yuan in the reserve currencies pool.

However, First Deputy Governor of the Bank of Russia Ksenia Yudaeva declined to comment on plans regarding reserves, stressing that it was premature.

As for IMF inclusion of the yuan in the currency pool, Yudaeva said that it would prompt other states to accumulate reserves in yuan.

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