international monetary fund

international monetary fund

IMF urges China to speed up economic reforms

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The International Monetary Fund is urging China to speed up economic reforms or face a major slowdown. In an annual report, the IMF says China's economy will slow to 7.1 percent growth next year, and will continue to lose momentum in the next decade. That's if the government does not push hard for financial reform and freeing up the exchange rate in the next two years. Overall the report took a positive stance on China's current reform efforts. But it argued policymakers should shift the focus away from growth, and do more to tackle the country's debt problems and struggling property market. For more on the IMF's China report, CCTV America's Esther Zou spoke with Markus Rodlauer, the IMF's deputy director and the writer of the report.