Policymakers' comments at IMF, World Bank meetings

Following are key quotes from global financial leaders on Saturday at the International Monetary Fund and World Bank fall meetings.

　　ON CURRENCIES

　　TREASURY SECRETARY TIMOTHY GEITHNER

　　"It is critical to see more progress by the major emerging economies to more flexible, more market-oriented exchange rate management. This is particularly important for those countries whose currencies are significantly undervalued."

　　EUROPEAN UNION COMMISSIONER OLLI REHN

　　"Going forward, risks of excess volatility and disorderly movements in exchange rates should be avoided in view of their adverse implications for economic and financial stability. In this respect, the Chinese authorities are encouraged to implement soon a more flexible exchange rate regime for the renminbi."

　　FRENCH ECONOMY MINISTER CHRISTINE LAGARDE

　　"Given the volatility of exchange rates and the important fluctuations observed since the beginning of the year, there is a need to promote a dialogue on exchange rate issues while pursuing the ongoing work on macroeconomic policy coordination within the G20."

　　ECB COUNCIL MEMBER AXEL WEBER

　　"We have pointed out that the emerging countries with surpluses have committed in Toronto to go on in reforming their exchange rate system...

　　"We have reminded these countries of their promise."

　　PEOPLE'S BANK OF CHINA DEPUTY GOVERNOR YI GANG