IMF says recent concerns over competitive currency devaluations are “overstated”

Author: Eamonn Sheridan | Category: News

Public support for Japan’s policies continues from the G20, the US, the WTO and, according to this article, the IMF.

  • The recent sizable depreciation of the yen has sparked concerns about competitive devaluations, the IMF said Thursday in a report on global prospects and policy challenges.
  • “Taking a broader perspective, however, such concerns seem overstated,” it said,

The ‘broader perspective includes:

  • The yen’s downswing also came after “a period where the exchange rate was assessed to be moderately overvalued,”
  • The organization thus showed understanding of the Japanese government’s argument that the currency’s recent movements represent a correction to its excessive appreciation.

Japan Times

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