Too early to talk of G20 failure on currencies: IMF

Too early to talk of G20 failure on currencies: IMF

WASHINGTON | Thu Oct 7, 2010 12:28am EDT

WASHINGTON (Reuters) - The International Monetary Fund said on Wednesday it was too early to say the G20 group of nations had failed to address the issue of global rebalancing and currencies.

"Clearly the issue of external rebalancing is becoming more and more important and as a result the issue of exchange rate adjustment is becoming a more and more important one," IMF chief economist Olivier Blanchard told reporters.

"I am optimistic the G20 can actually work out a solution, we are just at the beginning of the process, so it's much too early to declare it a failure."

(Editing by James Dalgleish)

http://www.reuters.com/article/idUSTRE6953GA20101007

so it's much too early to declare it a failure

IT IS A FAILURE!!! G20 set this plan in motion in APRIL 2009!!!!!!!!!!!!

COME ON wake up a smell the crap! IMF has continued to allow China to hold up the whole global balance!!!