Australian treasurer plays down talk of 'currency wars'
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Wayne Swan held talks with other finance ministers, including US treasury secretary Timothy Geithner.
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Australian Treasurer, Wayne Swan, has played down talk of a "currency war" over global exchange rate movements.
After two days of talks at the International Monetary Fund, world finance leaders including Mr Swan have agreed to continue work on dealing with simmering tensions over currency exchange rates.
"Those are matters that do need to be dealt with in a coordinated way," Mr Swan said.
Acting Shadow Treasurer, Andrew Robb, says some countries are deliberately devaluing their currencies to boost exports and he says the Government needs to take a strong stance against the policy.
"Wayne Swan should be alerting all of these other major countries to the very damaging implications of a currency war," says Mr Robb.
He says Australian businesses will suffer if the issue remains unresolved.
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