| China appeals to IMF to be evenhanded in applying new currency policy |
BEIJING, June 20 (AP) -- China appealed to the International Monetary Fund on Wednesday to be evenhanded in applying a new currency policy sought by the U.S. government to pressure Beijing.
Saying it was speaking for developing countries, China's central bank called on the IMF to pay attention to nation's circumstances and emphasized "the need for evenhandedness in the practice of surveillance."
The IMF issued guidelines Monday saying its 185 member nations should avoid exchange rate policies "that result in external instability."
Washington has been pushing Beijing to raise the government-controlled value of its currency, the yuan, which critics say is too low and is contributing to the country's bulging trade surplus.
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