No exchange rate debate in IMF meeting

[guardian]

April 24, 2010 10:33 EST

Ministers of the International Monetary Fund spring meeting on Saturday welcomed the recovery in the world economy but either deferred agreement or refused to discuss altogether the most contentious issues in front of them.

The communique' of the International Monetary and Financial Committee, the fund's 24-member ministerial steering group, said: "Signs of a strenthening economic recovery are encouraging but many challenges remain that need to be tackled collaboratively." But it failed even to mention exchange rates, one of the most controversial and high-profile issues in the world economy, with the U.S. having insisted that China's fixed exchange rate is contributing to global imbalances.

http://www.ft.com/home/us

[gators]

guardian thanks for posting.
it maybe that he didnt want to show his hand to prevent massive purchasing by speculators??
Lets hope so anyway.

[Med]

We could have squelched this several years ago when we found out....but fear of reprisals from China when we had legislation that would have put increased tariff on chinese goods was struck down.....

[mmclas]

Could it be that it is already decided????????????????????????? Let's hope so

[glk]

Thanks for the post Guardian. They wouldn't openly discuss rates or any of their plans for RV's and what countries. Is China really going to increase their currency and are just sending up smoke screens again?

[yukon]

i agree with gator to talk about new exchange rates would cause great speculation

[PHmichael]

thanks for the post guardian ,,,,hope it is already set and no discussions needed $$$$$$$$$$$$$$$$$$ we hope

[butterfly]

Please remember that this was in reference to China, not Iraq.

[Boasdinar]

Hope they equally refered to IQD since Iraqi dinar is among one of the most controversial currencies of out time today.



Boas

[Danj]

Thanks guardian --- Either their not showing their hand or not doing their job. Would love to have been a fly on the wall !