Strauss-Kahn

Dominique Strauss-Kahn, a head of the International Monetary Fund, made comments this week on the world currency reform saying that Chinese yuan should be given a greater role within the restructured monetary system.

Speaking at the IMF’s headquarters Strauss-Kahn noted that adding emerging market countries' currencies such as the yuan to a basket of currencies that the IMF administers would benefit the global system and create more stability.

IMF Managing Director Dominique Strauss-Kahn appealed the US, Britain and other countries to cooperate on new policies and regulations in the wake of the financial crisis.

As he claimed at the annual Herziliya Conference, at the onset of the crisis, world leaders were "scared" and agreed to work together to cancel out the crisis. However, at present, countries are formulating policies on their own.