G20 will want details on yuan

By Reuters
Posted June 21, 2010 at 10:32 a.m.

Leaders of some of the Group of 20 nations meeting in Canada this weekend will want to hear more about how China plans to make its currency more flexible, Canadian Finance Minister Jim Flaherty said Monday.

“Some countries will want to see more detail and perhaps even a schedule of some sort,” he told reporters when asked whether China’s announcement on Saturday that it would make the yuan more flexible meant the currency issue would not be such an important topic at the meetings.

On Canada’s own currency, Flaherty said the nation’s economic performance amid the world recession meant the Canadian dollar’s strength made sense. The Canadian government’s concern, he said, was about volatility.

Read more about the topics in this post:
 

Comments are closed.