Geithner urges greater IMF role in currencies

AP News
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Posted: Oct 09, 2010 6:00 PM
Geithner urges greater IMF role in currencies

Treasury Secretary Timothy Geithner is urging the International Monetary Fund to play a bigger role in monitoring how countries manage their currencies.

Geithner told the IMF's top policy committee on Saturday that the 187-nation lending institution must speak more forcefully about exchange rate policies.

Geithner's remarks are the latest effort by the United States to bring more pressure on China to allow its currency to rise in value against the dollar. American manufacturers believe China is unfairly manipulating its currency to gain trade advantages.