UPDATE 2-G20 FX text may differ from G7, but same intent - Russia

Thu Feb 14, 2013 11:27am EST
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* To support G7 on exchange rates

* Wording may diverge - Russia

* Japan defends dash for growth

By Lidia Kelly and Lesley Wroughton

MOSCOW, Feb 14 (Reuters) - Hosts Russia said on Thursday that Group of 20 finance officials meeting in Moscow would back the thrust of a Group of Seven statement on currencies, but indicated there was still haggling over the final wording.

Finance ministers and central bankers were flying to Moscow for the first big meeting of Russia's annual turn as G20 chair amid disarray among advanced economies over how to address policies of Japan's new government which have driven the yen down.

The G7 issued a joint statement on Tuesday reaffirming a "longstanding commitment to market determined exchange rates", but the show of unity was quickly undermined by off-the-record briefings critical of Tokyo.

Russia said the emerging market economies that make up the rest of the G20 - who together account for 90 percent of the world economy - will back the G7's core message. But the final text may diverge.

"The language may differ (from the G7), but the intent will remain the same," Finance Minister Anton Siluanov told Reuters before the talks on Friday and Saturday.   Continued...