- Title: USA: G10 MEETS AT INTERNATIONAL MONETARY FUND/WORLD BANK SPRING MEETING.
- Date: 26th April 1995
- Summary: WASHINGTON, D.C., UNITED STATES (26 APRIL 1995) (RTV) 1. SV INTERNATIONAL MONETARY FUND MANAGING DIRECTOR MICHEL CAMDESSUS AND ITALIAN FINANCE MINISTER LAMBERTO DINI TALKING TO EACH OTHER 0.16 2. SV GERMAN FINANCE MINISTER THEO WAIGEL 0.23 3. SV JAPANESE FINANCE MINISTER MASOYOSHI TAKEMURA AND MEMBERS OF JAPANESE DELEGATION 0.28 4. SV U.S. FEDERAL RESERVE CHAIRMAN ALAN GREENSPAN WITH AN AIDE 0.31 5. SV SWISS DELEGATION TO THE GROUP OF 10 0.37 6. SV SWEDISH DELEGATION TO THE GROUP OF 10 0.43 7. SV JAPANESE FINANCE MINISTER MASOYOSHI TAKEMURA AND MEMBERS OF JAPANESE DELEGATION 0.49 8. GV START OF THE GROUP OF 10 MEETING 0.53 Initials Script is copyright Reuters Limited. All rights reserved.
- Embargoed: 11th May 1995 13:00
- Location: WASHINGTON D.C., UNITED STATES
- Country: USA
- Reuters ID: LVA4X1DGJEKM4V0YD5X672HL8RE1
- Story Text: Ministers from the world's leading capitalist countries, grouped under the G10 banner, met at the International Monetary Fund/World Bank spring meeting in Washington on Wednesday (April 26).
The G10 - comprising Belgium, Canada, France, Germany, Italy, Japan, The Netherlands, Sweden, the United Kingdom, the United States and Switzerland - aims to coordinate monetary and fiscal policies.
Leading finance ministers continued talks following the previous day's session in which they found no consensus solution to the troubles of the falling dollar but were heartened by pledges to coordinate their efforts toward that end.
After intense talks on Tuesday (April 25) in Washington, finance ministers and central bank chiefs said the dollar had fallen too far. They said the slide was not justified by the performance of their economies and called for an "orderly reversal" of the drop.
The dollar, which has slumped nearly 20 percent against the Japanese yen and more than 10 percent against the German mark since the start of the year, rose slightly following the meeting.
The United States has cited Japan for failing to bring down a huge trade surplus and to open its markets to imports. But the communique issued by the ministers avoided direct criticism of Japan. And, contrary to expectations, there was none of the sharp words billed ahead of the meeting.
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