Managing Director of the International Monetary Fund (IMF) Horst Kohler said Friday that the institution will not exert pressure on China over its currency issue.

During a breakfast with reporters at the IMF's headquarters in Washington DC on Friday, Kohler outlined IMF's stand over the Chinese currency by offering two basic points.

Kohler said he does not think the IMF should be part of a scenario of coordinated pressure on China to take decisions over this issue.

The second point is that adopting steps toward more flexibility is appropriate.

Kohler said he does not want to speculate about the timetable and instead he would like to see the discussions in a context.

Kohler said people should not forget the contributions of China during the Asian crisis.

He also said that China is a fast-changing economy and is in a position of very strong growth.

(Xinhua News Agency September 13, 2003)