BADEN-BADEN, GERMANY – In the communique released Saturday after a two-day meeting of Group of 20 finance ministers and central bankers, the finance chiefs:
Drop a pledge to resist all forms of protectionism.
Vow to “strengthen the contribution of trade” to their economies.
Say excess volatility and disorderly moves in exchange rates could have adverse effect on economic and financial stability.
Pledge to refrain from competitive devaluations, targeting foreign exchange rates for competitive purposes.
Recognize downside risks remain over the global economy, vow to use all policy tools.
Drop reference to climate change.