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MENAFN - Qatar News Agency - 17/02/2013

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(MENAFN - Qatar News Agency) The G20 on Saturday pledged to avoid a "currency war" and to move more rapidly toward mores market-determined exchange rate systems and exchange rate flexibility, the German press agency reported.

The Group of 20 large economies, whose finance ministers and central bankers met in Moscow, said in a final communique they would resist a currency war.

The G20 pledged "to move more rapidly toward mores market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals." International Monetary Fund chief Christine Lagarde said that at the IMF "we think that talk of currency wars is overblown." At the G20 meeting "people did talk about their currency worries," she said in a statement.

"The good news is that the G20 responded with cooperation rather than conflict today."

 






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