The chief organizer of the Group of 20 summit on Wednesday dismissed concerns that an escalating global battle over currencies will dampen world leaders’ efforts to promote balanced growth and make the world financially safer.
SaKong Il, the chairman of the Presidential Committee for the G20 Summit, told The Korea Herald that countries are expected to get closer to solving the dispute through a series of discussions before the Nov. 11-12 meeting.
“It is in every (G20) nation’s best interest to settle the issue. I am hopeful that G20 nations will be able to reach common ground on the exchange rate policies by the Seoul summit,” he said.
The issue of monetary reform is currently being discussed as part of G20’s mutual assessment process ― a peer review system led by the International Monetary Fund to come up with policy recommendations for G20 nations, he and aides said.
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