October 17, 2007 / 2:08 PM / 12 years ago

U.S. dollar depreciation "healthy", IMF says

WASHINGTON, Oct 17 (Reuters) - The weakening U.S. dollar is part of a normal process of economic rebalancing, and is positive for the global economy provided that other currencies adjust too, the chief economist for the International Monetary Fund said on Wednesday.

“We think it’s been orderly so far,” Simon Johnson said at a news conference, adding that the dollar’s fall was a “natural, healthy” process that the IMF had been anticipating for some time.

The fund said earlier on Wednesday that the dollar remained overvalued, despite its recent steep decline.

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