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Talk of currency wars 'overblown': IMF

Published on Feb 14, 2013 11:53 PM
 

WASHINGTON (REUTERS) - The International Monetary Fund (IMF) said talk of currency wars was 'overblown', playing down concerns on Thursday that easy monetary policies in advanced economies had sparked dangerous devaluations.

"I think you're referring to the recent moves in exchange rates, and the so-called talk of currency wars, which we feel is overblown," IMF spokesman Gerry Rice told reporters on Thursday, in response to a question about whether the Fund was concerned about recent exchange rate movements.

"Our multilateral assessment does not indicate very significant deviations from the fair value for the relevant currencies," he said.

Mr Rice's statement echoed similar comments from the Fund's chief economist, who last month said the IMF saw no problems with countries' actions to get their economies back to health.