Summary Box: G20 finance chiefs tackle currencies

AP News
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Posted: Oct 21, 2010 4:26 PM
Summary Box: G20 finance chiefs tackle currencies

CURRENCY AFFAIRS: Global finance leaders get another chance this week to defuse international currency tensions that overshadow debate about reforming the world economy.

WHO'S READY TO TALK: Finance ministers and central bank governors from the Group of 20 rich and emerging nations, along with key officials from international finance and lending organizations, meet Friday and Saturday in the South Korean city of Gyeongju.

WHAT'S AT STAKE: They meet amid fears the world could descend into a currency war that causes another downturn. In such a scenario, countries devalue their currencies to gain a competitive advantage even though the world economy has yet to fully recover from the global financial meltdown two years ago.