Russian, ahead of G20, urges balanced action

Wed Feb 13, 2013 2:03am EST
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MOSCOW Feb 13 (Reuters) - The central bank of Russia, host of this week's meeting of Group of 20 finance officials in Moscow, urged joint action to achieve balanced global growth and called on nations not to resort to trade protectionism and competitive currency devaluations.

"The temptation arises to solve the problem of growth through local individual action," said Alexei Ulyukayev, first deputy chairman of the Bank of Russia.

"The temptation arises of trade protectionism, currency wars, artificially depressing the exchange rate of national currencies."