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Toyako, July 9:: It is hard to know how far the global financial crisis still has to run, with the extent of further credit losses dependent on what happens to the US housing sector, IMF chief Dominique Strauss-Kahn said on Wednesday.
"What is sure is that the consequences for the real (economy) sector of the financial crisis are still in front of us," Strauss-Kahn, the International Monetary Fund's managing director, said in an interview.
Speaking on the sidelines of the annual Group of Eight summit in northern Japan, Strauss-Kahn restated the IMF's view that the yuan is undervalued. He said the fund's board would meet in about six weeks' time to determine whether the exchange rate was in fact fundamentally misaligned.
He said the dollar is close to its medium-term equilibrium value when measured against a basket of currencies even if, on a bilateral basis, it might currently appear to be slightly on the weak side against the euro.
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