Korean Officials Say Truce on Currency Devaluation Will Help Next G20 Summit
The American Chamber of Commerce in Korea states that Korean officials believe next month’s G-20 Summit in Seoul will be successful thanks to an agreement made by the G-20 member nations the weekend of October 24, 2010 to call a…
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truce on competitive currency devaluations. The Korean government had been worried that the currency issue, if it continued to escalate, would derail the summit and remove hope for the adoption of initiatives such as establishing a global financial safety net linked to the revision of loan policies at the International Monetary Fund.