RPT-G20 agrees on direction of FX changes-Canada’s Flaherty

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GYEONGJU, South Korea, Oct 22 (BestGrowthStock) – Group on 20
nations are in agreement on the direction of changes needed
in currencies, Canada’s finance minister Jim Flaherty said
on Friday.

Flaherty also said he agrees with a proposal made in a
letter to the G20 by U.S. Treasury Secretary Timothy
Geithner to cap current account surpluses or deficits as a
way to help to rebalance the global economy.
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“Secretary Geithner’s letter is helpful. It sets out a
possible way forward that has been discussed among
participants here and previously,” Flaherty said.

“No one wants to be confrontational here. No one wants
to walk away from here without an agreement on an action
plan.”

G20 finance officials started two days of meetings on
Friday in South Korea to discuss ways to curb global
currency and current account imbalances.
(Reporting by Louise Egan; Editing by Ed Lane)

RPT-G20 agrees on direction of FX changes-Canada’s Flaherty