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China's yuan currency, which Washington has long alleged was manipulated, is "no longer undervalued", the International Monetary Fund said Tuesday. "Our assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer undervalued," the IMF said in a statement after a consultation mission to China. The value of the yuan, also known as the renminbi, has been a source of tension for years with China's major trade partners -- led by Washington -- accusing Beijing of keeping it artificially low to give Chinese exporters an unfair competitive advantage, which Beijing denied.
By Clement Manirabarusha and Goran Tomasevic BUJUMBURA (Reuters) - East African leaders will meet on Sunday at a special summit to discuss the crisis in Burundi, where police and protesters continue to clash on the streets of the capital and the opposition has boycotted peace talks. A Reuters witness saw police fire in the direction of protesters and gunfire was heard in several parts of Bujumbura early on Tuesday, where many roads are blocked and businesses closed after a month of sometimes lethal protests against President Pierre Nkurunziza's bid for a third term in office. Elements in the military attempted a coup on May 13 while Nkurunziza was out of the country at the last East African Community (EAC) summit aimed at ending the conflict.