China, India urge stability of major currencies


Reuters | Sep 2, 2010 | 2:48pm IST

Currencies' stability Maintaining the relative stability of major reserve currencies and ensuring fiscal sustainability are important in order to achieve strong and balanced global growth, China and India said on Thursday. In a statement released after a regular meeting of vice-finance ministers, the two countries expressed concern over possible capital flow disorders resulting from monetary policy adjustments, which they said may lead to financial risks.

Asian economies continue to recover robustly but some have exhibited signs of overheating and inflationary pressure, the statement said, without naming names. "Both sides agreed that it remains an arduous task to ensure a robust global economic recovery, which requires continued efforts of the international community," said the English-language communique, posted in the website of the Ministry of Finance, http://www.mof.gov.cn.

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