China has notified the International Monetary Fund of its interest in investing up to 50 billion dollars in new IMF bonds.
IMF Managing Director Dominique Strauss-Kahn issued a statement on Tuesday, welcoming China's move.
The IMF wants to shore up its capital base so it can help cash-strapped nations hit by the global financial crisis. This is the IMF's first-ever bond issue.
Russia has already said it intends to buy up to 10 billion dollars worth of the bonds.
The bonds are expected to be denominated in the IMF's own unit of account known as Special Drawing Rights, or SDRs.
The SDR is a weighted average of four major currencies, namely the dollar, yen, euro, and pound.
China and Russia have suggested that the SDR be made a new global reserve currency to replace the US dollar.
2009/06/10 15:05(JST)
(JST: UTC+9hrs.)
http://www.nhk.or.jp/daily/english/10_24.html 
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