Global Finance Ministers Fail to Resolve Currency Disputes

The International Monetary Fund ended the International Monetary and Financial Committee meeting with a communique that vowed to "deepen its work" in the area of international monetary stability. This included giving IMF chief Dominique Strauss-Kahn a mandate to operate as judge, arbiter and analyst in dealing with the main players in the currency dispute: the United States, the euro area, China and Japan, reports the Japan Times.

 

Global finance ministers, however, left the two-day meeting without any concrete solution to the currency problem, says the Times.

 

In the communique, ministers say their priorities were to address remaining financial sector fragilities; ensure strong growth in private sector demand and job creation; secure sound public finances and debt sustainability; work toward a more balanced pattern of global growth, recognizing the responsibilities of surplus and deficit countries; and address the challenges of large and volatile capital movements, which can be disruptive.

 

 

MORE ARTICLES ON CURRENCY

Read more on

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern