Singapore seeks global currency accord

Tharman: ‘But the alternative is one of constant volatility, and the emerging countries especially at the receiving end.’ – EPA

MUMBAI: The world economy needs something like a modern-day Plaza Accord to safeguard growth against currency market volatility, according to Singapore’s Deputy Prime Minister Tharman Shanmugaratnam.

The remarks by the Singaporean official, who is also a former finance minister, come a week before Group of 20 officials gather in Washington to discuss the state of the world economy.