The International Monetary Fund said the yuan trails its global counterparts in major benchmarks and that "significant work" in analyzing data is needed before deciding whether to grant the Chinese currency reserve status.

IMF staff members also opened the door to a possible delay in any approval with a proposal to postpone by nine months, until September 2016, the implementation of a change in the basket of currencies that make up the lender's Special Drawing Rights, according to an update on the five-yearly review released Tuesday in Washington. The IMF said postponing the change would make the transition to a new basket smoother.

The report suggests that while approval by the IMF board isn't yet assured, it's within reach, and the decision will come down to more than just the staff's assessment. China has been pushing for the yuan to join the dollar, euro, yen and pound in the SDR basket; while France has called for including the yuan, the US has urged China to keep moving toward a flexible exchange rate and making financial reforms to qualify.

"The ultimate assessment by the board will involve a significant element of judgment," the IMF report said.(source from Reuters)

• [Editor:Juan]