G20 communique will have no numerical targets: official

SEOUL (BestGrowthStock) – A final statement to be released at the end of the Group of 20 summit on Friday will not have any numerical targets, including on current account imbalances, a G20 official involved in the negotiations told Reuters on Wednesday.

“There are no big numbers in the draft communique and there will be no big numbers in the final one either,” the official said.

Germany and several other nations have hit out at a U.S. plan to consider a limit on current account imbalances.

On currencies, the G20 official said, the statement will state countries should have “flexible exchange rate movement,” without any reference to any individual currency such as China’s yuan, which has been singled out for criticism by some nations.

The official said there had been discussions on indicative guidelines on external imbalances, but the communique would not have any details on it.

“There is only a reference to indicative guidelines,” the official said.

G20 communique will have no numerical targets: official