The G20 Meeting of Finance Ministers and Central Bank Governors was held on October 21-23 in Gyeongju, South Korea. The gathering was designed to review and coordinate key agendas for the upcoming G20 Seoul Summit. At the summit, currency issues sparked strong interest. Korea, as chair, played an active role in mediating conflicts among member nations. Meeting attendees agreed to implement market-determined exchange rate policies and refrain from competitive devaluation of currencies to tackle trade imbalances.
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