Bloomberg News

IMF Says Data Show Talk of Currency Wars is ‘Overblown’

February 14, 2013

International Monetary Fund spokesman Gerry Rice said that talk of international currency wars is “overblown.”

“Our multilateral assessment does not indicate very significant deviations from fair value for the relevant currencies,” Rice told a news conference in Washington today.

Finance officials from the Group of 20 countries are meeting in Moscow this week with an emphasis on exchange rate volatility. Officials should take a stronger stance against currency manipulation, Russian Finance Minister Anton Siluanov said after conflicting statements on the weakening yen roiled markets.

“These are obviously developments to watch with an eye on a cooperative approach and of course, the IMF will do its part in this effort,” Rice said.

To contact the reporter on this story: Sandrine Rastello in Washington at srastello@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net


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