Don’t kiss your dollars goodbye just yet, says IMF chief

Kristalina Georgieva, the managing director, of the International Monetary Fund (IMF) said on Wednesday (24 May) she does not expect there to be a rapid shift in reserves of the US dollar.

Asked about de-dollarisation of the world, Georgieva said: “We don’t expect a rapid shift in reserves because the reason the dollar is a reserve currency is because of the strength of the US economy and the depth of its capital markets.”

“Don’t kiss your dollars goodbye just yet,” Georgieva said, speaking at the Qatar Economic Forum in Doha, organised by Bloomberg.

In recent times, Several countries including China, Russia and Brazil have taken steps to reduce their reliance on the US dollar in international transactions and financial markets.