They jointly confirm the continued “close consultations on macroeconomic and foreign exchange matters.”
After Treasury Secretary Scott Bessent’s recent trip to Asia, the U.S. Department of the Treasury released separate announcements on partnerships with the Bank of Thailand and the Bank Negara Malaysia, outlining the continuation of “close consultations on macroeconomic and foreign exchange matters.”
Each agreement reaffirmed “they have undertaken under the IMF Articles of Agreement to avoid manipulating exchange rates or the international monetary system to prevent effective balance of payments adjustment or to gain an unfair competitive advantage.”
The agreements pledge not to target exchange rates for competitive purposes and to be transparent in exchange rate policy, publicly disclosing any foreign exchange intervention operations, and foreign exchange reserves data and forward positions.
As the Lord Leads, Pray with Us…
- For Secretary Bessent to be prudent in his oversight of the nation’s finances and foreign partnerships.
- For U.S. treasury and commerce officials to seek God’s direction as they seek to improve the nation’s economy.
Sources: Department of the Treasury
