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September 17, 2021

Financial Times: IMF’s Strauss-Kahn warns of a currency war

The head of the International Monetary Fund, Dominique Strauss-Kahn, has warned in an interview against countries using currencies as “policy weapons.” In comments to the Financial Times published on Tuesday, Strauss-Kahn said: “Translated into action, such an idea would represent a very serious risk to the global recovery…Any such approach would have a negative and very damaging longer-run impact.” He made the comments to the FT on Monday ahead of annual IMF and World Bank meetings in Washington this weekend. The comments also came ahead of the Bank of Japan’s cut to its key interest rates and outline of a fund to buy assets to boost liquidity, the announcement of which briefly weakened the yen.

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