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Poll: Current Account Targets Best Way for Rebalancing?

CNBC.com
Sunday, 7 Nov 2010 | 4:19 AM ET

Discussions on setting targets for current account balances are expected to take place at the Group of 20 summit in Seoul on Nov. 11-12.

U.S. Treasury Secretary Geithner said on Saturday that while there is now broad consensus to develop some form of policy framework to avoid excessive imbalances, detailed limits should not be expected from the Seoul summit.

At a meeting of finance chiefs from the Asia-Pacific Economic Cooperation (APEC), Geithner denied widespread reports that the U.S. was pushing for a target of about 4 percent of GDP.

So far, Canada has said it wants the G20 to agree to targets for current account imbalances, but Australian Treasurer Wayne Swan last week, cautioned against a "one-size-fits-all" approach.

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- Reuters contributed to this report.

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