U.S. gov't delays currency report

10:42, April 04, 2010      

Email | Print | Subscribe | Comments | Forum 

The U.S. government Saturday announced to delay a report to Congress on international economic and exchange rate policies which was originally scheduled on April 15, according to a statement released by Treasury Secretary Tim Geithner.

"I have decided to delay publication of the report to Congress on the international economic and exchange rate policies of our major trading partners due on April 15," Geithner said.

He said there were better venues to advance U.S. interests and did not give a date for the release of the report.

"There are a series of very important high-level meetings over the next three months that will be critical to bringing about policies that will help create a stronger, more sustainable, and more balanced global economy," the statement said.

Those meetings include a Group of 20 (G20) Finance Ministers and Central Bank Governors meeting in Washington later this month, the Strategic and Economic Dialogue (S&ED) with China in May, and the G20 Finance Ministers and Leaders meetings in June.

"I believe these meetings are the best avenue for advancing U.S. interests at this time," said Geithner.

He noted that policy adjustments are needed to ensure global economic growth.

The U.S. need to increase private savings, reduce current account deficit and cut fiscal deficit.

Countries with large external surpluses and floating exchange rates face the challenge of encouraging more robust growth of domestic demand, while surplus economies with inflexible exchange rates need to move to greater exchange rate flexibility, he said.

Geithner said the U.S. government's objective is to use the opportunity presented by the G20 and S&ED meetings with China to make material progress in the coming months.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
  • Actress Huang Jieqiong performs at the opening ceremony of the Second Ecological and Cultural Tourism Festival in Enshi Tujia and Miao Autonomous Prefecture, central China's Hubei Province, Sept. 26, 2011. (Xinhua/Hao Tongqian)
  • Photo taken on Sept. 27, 2011 shows the Erqi Yangtze River Bridge in Wuhan, capital of central China's Hubei Province. The two sections of the bridge were joined on Tuesday. The seventh cross-Yangtze River bridge of Wuhan City is the largest three-tower cable-stayed bridge with 616 meters of main span. The bridge is expected to be put into operation in the end of 2011. (Xinhua/Xiao Yijiu)
  • Members of civil organizations who oppose laws that allow voluntary abortion, participate in a protest in front of the Supreme Court in Mexico City, capital of Mexico, on Sept. 26, 2011. The Supreme Court began on Monday a debate on a constitutional reform in the states of Baja California and San Luis Potosi, which establish the beginning of the right to life during conception, contradicting the federal constitution. (Xinhua/Claudio Cruz)
  • Actors perform during the opening ceremony of the China Today Art Week in Malmo, Sweden, Sept. 26, 2011. (Xinhua/Liu Yinan)
Hot Forum Discussion