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G20 Ministers Gather In Moscow


International Monetary Fund Managing Director Christine Lagarde takes her seat waiting for Russian President Vladimir Putin during a meeting of G20 finance ministers in the Kremlin in Moscow on February 15.
Financial ministers from the G20 are meeting in the Russian capital, Moscow, at the start of two days of meetings.

Reports say talks will likely focus on so-called currency wars, when countries seek to weaken their currencies to boost national growth, and on recent moves by Japan to spur economic growth.

Analysts say Japan's actions have caused the currency, the yen, to lose about 20 percent of its value since November.

However, the general secretary of the Organization for Economic Cooperation and Development, Angel Gurria, said as ministers descended on Moscow that the threat of "currency wars" was now lower than two or three years ago.

The G20 includes both the world's leading and emerging economies, accounting for 90 percent of the world economy.

The G20 meeting is being hosted by Russia for the first time as it holds the presidency of the grouping.
Based on reporting by Reuters, AFP, Interfax, and AP