IMF to move headquarters to Beijing in ten years: Lagarde

The headquarter building of the International Monetary Fund in Washington D.C., the United States [File photo: Xinhua]

The head of the International Monetary Fund is suggesting her organization's headquarters are likely going to end up in China sometime in the coming decade.

Christine Lagarde notes that IMF rules require the organization's headquarters be based out of the country with the largest economy among member-states.

Lagarde's comments have been made on the heels of the IMF revising up its forecasts for China's growth over the next 2-years in its updated World Economic Outlook report.

The report follows the release of Chinese data last week showing GDP growth hit a stronger-than-expected figure through the second quarter, which has been maintained at 6.9-percent through the first-half of this year.

For more on this, CRI's Paul James spoke earlier with John Ross, Senior Fellow with Chongyang Institute for Financial Studies a Renmin University.

John Ross, Senior Fellow with Chongyang Institute for Financial Studies at Renmin University, speaking with CRI's Paul James.