Published on Gold Anti-Trust Action Committee (http://www.gata.org)

U.S. Treasury official: G-20 sees need to 'double down' against devaluation

By cpowell
Created 2015-09-05 13:10

By David Dolan
Saturday, September 5, 2015

ANKARA, Turkey -- There is a shared belief among the members of the Group of 20 leading economies in the need to "double down" against competitive currency devaluation and avoid it in both policy and language, a senior U.S. Treasury official said today.

Speaking to reporters on the sidelines of the G20 meeting of central bankers and finance ministers in the Turkish capital, the official said the final communique from the meeting was expected to address competitive devaluation, where countries attempt to drive down a currency to boost exports.

"You can make policy decisions that lead to competitive devaluation, (or) you can say things that lead to talking down a currency," the official said.

"There is a shared sense that the G20 needs to double down on its principle that competitive devaluation is a bad thing." ...

... For the remainder of the report:

http://www.reuters.com/article/2015/09/05/us-g20-turkey-usa-idUSKCN0R50A... [1]


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