The U.S. dollar may come under renewed pressure from emerging market currencies and the euro after a meeting of the world's top finance officials failed to take concrete action on rebalancing global money flows
China on Saturday shrugged off international pressure to appreciate its currency, saying developed countries should focus on the quality of their own economic policy-making. Chinese Finance Minister Xie Xuren, speaking after finance ministers and central bank governors of the Group of 20 nations met in Scotland, said countries with global reserve currencies should work to maintain the currencies' value to avoid destabilising the world economy.
Group of 20 finance ministers and central bankers pledged on Saturday to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.
The International Monetary Fund warned global financial leaders on Friday not to repeat the mistakes of the Great Depression and choke off emergency support for their economies too quickly.
Japanese Finance Minister Hirohisa Fujii said on Friday he wants to discuss the world economy with U.S. Treasury Secretary Timothy Geithner next week.
The Group of 20 leading nations will agree this weekend it is too early to pull the plug on emergency support for the global economy and launch a new system of checks to help rebalance world growth and prevent future crises.
The Group of 20 leading nations will agree this weekend it is too early to pull the plug on emergency support for the global economy and launch a new system of checks to help rebalance world growth and prevent future crises.
Finance chiefs from the Group of 20 will discuss eventually unwinding emergency economic stimulus packages introduced over the last year, U.S. Deputy Treasury Secretary Neal Wolin said on Wednesday.
The Group of 24 nations on Saturday called for a significant shift in IMF voting power to developing nations and a doubling of members' quotas to raise more resources for the global financial institution.
A pledge from Group of 20 leaders to bring the global economy back into balance is not seen as good for the dollar in the long run, underscoring its anemic performance in recent weeks.
The Group of 20 rich and developing nations must tackle global economic imbalances in its new role as the key international policy forum, European Central Bank President Jean-Claude Trichet said in comments released on Sunday.
The Group of 20 rich and developing nations must tackle global economic imbalances in its new role as the key international policy forum, European Central Bank President Jean-Claude Trichet said in comments released on Sunday.
The Group of 20 rich and developing economies, fresh from a triumphant show of unity at Pittsburgh, faces months of deal-making and communication to markets that will test its credibility as the premier global forum for economic cooperation.
European Commission President Jose Manuel Barroso expressed concern on Friday that the G20 countries were not moving fast enough to help achieve a United Nations agreement on fighting climate change.
(Corrects dates of next meetings, paragraphs 9 and 18)
The Group of 20 rich and developing economies, fresh from a triumphant show of unity at Pittsburgh, faces months of deal-making and communication to markets that will test its credibility as the premier global forum for economic cooperation.
The Group of 20 rich and developing economies, fresh from a triumphant show of unity at Pittsburgh, faces months of deal-making and communication to markets that will test its credibility as the premier global forum for economic cooperation.
The Group of 20 rich and developing nations promised to give rising powers such as China more say in rebuilding and guiding the global economy, and declared their crisis-fighting efforts a success on Friday.
The leaders of the world's 20 largest economies agreed on Friday that the G20 will replace G8 as world's dominant economic coordinator.
The Group of 20 rich and developing nations declared their crisis-fighting efforts a success on Friday and promised to give rising powers such as China more say in rebuilding and guiding the global economy.
The Group of 20 rich and developing nations declared their crisis-fighting efforts a success on Friday and promised to give rising powers such as China more say in rebuilding and guiding the global economy.
The Group of 20 will become the forum for global economic management, giving rising powers such as China more clout, and will roll out tougher rules for banks by the end of 2012, a draft communique said on Friday.