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G8, G5 agree to avoid currency devaluations

L'Aquila, Italy, July 9, 2009

G8 leaders plus Brazil, India, China, Mexico, South Africa and Egypt agreed to refrain from competitive currency devaluations and promote a stable international financial system, a draft declaration said.

The G8 and so-called G5 plus Egypt also pledged to conclude the Doha round of world trade talks successfully in 2010 and instructed their trade ministers to meet before the next Group of 20 industrial and developing nations in Pittsburgh in September, according to a draft communique obtained by Reuters.  -Reuters

 




Tags: Currency | G8 | G5 |

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