PARIS, November 1. /TASS/. The yuan is unlikely to replace the dollar as the main reserve currency in the near future, the European Central Bank (ECB) President Christine Lagarde said in an interview with the French newspaper Le Monde.
"For this to happen (de-dollarization - TASS), another country would have to take on the role [of issuer] of the reserve currency. China is preparing for this, but it is not ready yet. I will probably not see the yuan displacing the dollar for the rest of my life," said the ECB chief, who turns 69 next year.
In the interview, Lagarde also shared the ECB's assessment of the consequences of further fragmentation of international trade. In the worst-case scenario, this could cost the global economy 9% of global GDP, she noted.