February 13, 2010 / 6:02 AM / in 8 years

Prospect of SDRs as reserve currency remote: Mark Carney

MUMBAI (Reuters) - The prospect of International Monetary Fund’s (IMF) Special Drawing Rights (SDR) becoming a reserve currency is remote in the near future, Bank of Canada Governor Mark Carney said on Saturday. “Prospect of SDR as a meaningful reserve currency is remote in a reasonable time horizon partly because of the governance structure of the IMF and partly because it doesn’t solve the reserve currency adjustment problem in our opinion,” Carney said.

Reporting by Suvashree Dey Choudhury and Swati Bhat; Editing Surojit Gupta

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