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Seoul - South Korea said on Tuesday that discussions were
under way in the Group of 20 rich and developing nations to supply liquidity to
the global financial system and that some progress has already been made.
"I can't disclose details yet but discussion has been made at a G20 level about supplying liquidity," South Korean Vice Finance Minister Shin Je-yoon told a media briefing, held primarily over a plunge in the country's won currency.
He declined to elaborate.
Riskier assets such as emerging market currencies have
tumbled in recent months as mounting worries about Europe's debt crisis and a
global economic slowdown prompt investors to shift into the relatively safety
of the US dollar and Treasuries.
Finance ministers and central bank chiefs from the Group of 20 advanced and major emerging economies are due to meet in Paris from October 14-15 before their leaders hold a summit in the southern French resort of Cannes in early November.
