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G-20 Affirms No-Devaluation Pledge, to Consult on Currencies

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Finance chiefs from the Group of 20 agreed to consult closely on foreign exchange markets and reiterated past pledges to refrain from competitive devaluations. 

The G-20 members agreed to use monetary, fiscal and structural tools to boost growth, according to a final communique released in Shanghai on Saturday. Underscoring concerns over the limitations of central bank-led stimulus, "monetary policy alone cannot lead to balanced growth," the document said.