Global Finance Officials Want IMF To Calm Currency Tensions
In view of rising currency tensions globally, the International Monetary Fund (IMF) has been tasked by global governments to calm the recent outbreak amid signs that it is beginning to trigger a protectionist backlash. Officials including US Treasury Secretary Timothy F. Geithner and Egyptian Finance Minister Youssef Boutros-Ghali said the IMF should outline how countries can expand their economies without damaging those of other nations. China is accused of keeping the renminbi undervalued to boost exports, while low interest rates in the US and other industrial nations are blamed for propelling capital flows into emerging markets, driving up their currencies.
Tracking The World Economy... - 11/10/2010
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