1. Friday May 25, 2018
      Home > News > Economy
      Text:| Print|

      G20 members pledge to refrain from competitive devaluation

      2013-04-21 08:51 Xinhua     Web Editor: Sun Tian comment

      Finance ministers and central bank governors from the Group of 20 (G20) major economies in the world on Friday reaffirmed their pledge to avoid the competitive devaluation of respective currencies.

      "We will refrain from competitive devaluation and will not target our exchange rates for competitive purposes, and we will resist all forms of protectionism and keep our markets open," said a communique issued after the G20 officials wrapped up two days of discussions on the sidelines of the International Monetary Fund ( IMF) and the World Bank Spring Meetings.

      The pledge is similar to the one they made at a previous gathering in Moscow in February.

      The G20 policymakers also reiterated that "excess volatility of financial flows and disorderly movements in exchange rates have adverse implications for economic and financial stability," adding that monetary policy should be directed toward domestic objectives.

      "We will be mindful of unintended negative side effects stemming from extended periods of monetary easing," the communique added.

      In the communique, the G20 members said that although the global economy had avoided major tail risks and financial market conditions had continued to improve, the growth was too weak and unemployment remained too high in many countries. So further actions are required to make growth "strong, sustainable and balanced."

      Playing down public concerns over a global "currency war," the G20 officials said that recent monetary easing measures from the Bank of Japan, which have led to a sharp devaluation of the yen, were intended to stop deflation and support domestic demand.

      Without setting a hard debt-reduction target, policymakers of the world's biggest economies highlighted the importance of maintaining fiscal sustainability, and called for medium-term fiscal strategies from the advanced economies by the time of the St. Petersburg G20 Summit in September.

      The communique also stressed the urgent need for ratification of the 2010 IMF Quota and Governance Reform, a package which included a shift in quotas to dynamic emerging markets and under- represented countries, and a proposed amendment to reform the executive board. The legislatures of some key IMF members, including the United States, have not yet given the green light to the reform package.

      Meanwhile, the G20 members agreed to finalize a new quota formula and complete the 15th General Quota Review by January 2014.

      "We reaffirm our previous commitment that the distribution of quotas based on the formula should better reflect the relative weights of IMF members in the world economy, which have changed substantially in view of strong GDP growth in dynamic emerging market and developing countries," said the document.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: a毛看片免费观看视频| 亚洲aⅴ天堂av天堂无码麻豆| 怡红院免费的全部视频| 国产成人亚洲精品影院 | 亚洲国产精品张柏芝在线观看| 中国在线观看免费的www| 青青草原亚洲视频| 久久www免费人成看国产片| 亚洲日韩乱码中文无码蜜桃臀网站 | 久久久久久99av无码免费网站| 亚洲毛片基地日韩毛片基地| 91高清免费国产自产| 亚洲国产精品综合一区在线| 歪歪漫画在线观看官网免费阅读| 天堂亚洲国产中文在线| 国产三级电影免费观看| 国产vA免费精品高清在线观看| 亚洲精品高清国产一线久久| 最近最好最新2019中文字幕免费| 西西人体免费视频| 亚洲经典千人经典日产| 国产真人无遮挡作爱免费视频 | 亚洲中文字幕日产乱码高清app| 中文字幕av免费专区| 亚洲国产精品嫩草影院在线观看 | 一级成人a免费视频| 亚洲女久久久噜噜噜熟女| 99精品一区二区免费视频| 亚洲 欧洲 自拍 另类 校园| 国产成人高清精品免费软件| 一级中文字幕免费乱码专区| 亚洲av综合avav中文| 无码区日韩特区永久免费系列| 国产精品国产亚洲区艳妇糸列短篇| 91麻豆精品国产自产在线观看亚洲 | 好湿好大好紧好爽免费视频| 亚洲综合精品一二三区在线 | 午夜无遮挡羞羞漫画免费| 成在线人直播免费视频| 亚洲第一页在线视频| 免费一级毛片不卡不收费|