Published on Mon, Nov 23, 2009 at 17:34 | Source : Reuters
Updated at Mon, Nov 23, 2009 at 17:57
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IMF official warns of bubbles in emerging markets
Some emerging economies are at risk of uncontrolable capital movements, bubbles, and accumulation of reserves, the IMF's chief economist Olivier Blanchard said in an interview published on Monday.
Some emerging economies are at risk of uncontrolable capital movements, bubbles, and accumulation of reserves, the International Monetary Fund's (IMF) chief economist Olivier Blanchard said in an interview published on Monday.
"These countries have interest rates that are higher than the developed countries and more pressure on their exchange rates," Blanchard said in an interview with France's Le Monde newspaper.
"It can only be difficult for Brazil to see the real appreciating when the yuan is weakening with the dollar."
The IMF official also said countries were moving towards more diversification in their foreign exchange reserves. This was desirable, but it would not lead to a collapse of the U.S. dollar, he said.
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