IMF official: BRI important to global economy

Added On April 15, 2019

An official of the International Monetary Fund says that the China-proposed Belt and Road Initiative (BRI) is a "very important contribution" to the global economy. Let's take a look.
Changyong Rhee, the Director of the Asia and Pacific Department at the IMF, said the BRI has benefited the world in fostering infrastructure need in the low-income countries and also promoting regional cooperation and connectivity in trade investment, human mobility and finance.
According to Rhee, "The IMF is in very close collaboration with the Chinese authorities on sharing the best international practices, especially regarding fiscal sustainability and capacity building."
He said the IMF has opened the China-IMF Capacity Development Center in Beijing in order to provide personnel training, support institution building and boost communication for countries along the Belt and Road.
The official also lauded China's efforts to open up its financial sector, and encouraged the country to continue developing its capital market to support its economic growth in the long run.
The IMF has revised up the 2019 growth projection for China to 6.3 percent, up 0.1 percentage points from its previous estimation in January.