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Currency wars or rivalry out of question -- minister

February 16, 2013, 18:05 UTC+3
According to Siluanov, one should be talking not about currencies but about the regimes in which they operate
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, February 16 (Itar-Tass) – There can be no question of currency war of competition at this point in time, according to the conclusion made by the G20 chief financiers and bankers at their meeting in Moscow, Russian Finance Minister Anton Siluanov said on Saturday, February 16.

“This was emphasised by all the participants. Everybody agreed with that and this opinion was included in the final statement,” he said.

According to Siluanov, one should be talking not about currencies but about the regimes in which they operate.

“If the state, the Central Bank, interferes in the price-setting process,” a positive result can be achieved only in the short term, while in the long term this would cause serious disproportions, he warned.

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