China could buy billions in IMF bonds

IMF bondsHoping for BRIC buyers

Chinese state media say the country will consider investing up to $50 billion in the International Monetary Fund's first bonds.
'If the IMF bonds meet our requirements in terms of safety and return on investment, we will actively consider buying up to $50 billion of bonds,' an unnamed official said, according to the Xinhua news agency.
The official from China's State Administration of Foreign Exchange said the country had consistently worked to help the IMF's attempts to boost its financing through the market.
Advertisement
The 185-nation IMF is struggling to provide financing to countries in trouble amid the global financial and economic crisis.
It has been working to issue its very first bonds, and major developing economies such as Brazil, Russia, India and China - known collectively as the BRIC countries - are seen as potential buyers.
The IMF said last week that Russia intends to buy up to $10 billion in the multilateral institution's bonds. China's currency reserves are the largest in the world and currently stand at about $1.9 trillion.