Major currencies may need to weaken -IMF

WASHINGTON, April 21 (BestGrowthStock) – Advanced economies may
need to weaken their currencies to boost exports, the
International Monetary Fund’s chief economist said on
Wednesday.

Olivier Blanchard told a news conference it may also be
useful for China’s yuan currency to appreciate to ward off
overheating of its economy.

“Advanced economies, as a whole, may need to depreciate
their currencies,” he said. “Emerging and developing economies
do the reverse, let their currencies appreciate and reduce
their net exports.”
Stock Research

(Reporting by Lesley Wroughton, Emily Kaiser, Leika Kihara;
editing by Patrick Graham)

Major currencies may need to weaken -IMF