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Talk of currency wars ‘overblown,’ IMF spokesman says Posted: 14 Feb 2013 07:57 AM PST Talk of currency wars was 'overblown', IMF spokesman Gerry Rice told reporters today. — AFP pic WASHINGTON, Feb 14 — The International Monetary Fund said talk of currency wars was 'overblown,' playing down concerns today that easy monetary policies in advanced economies had sparked dangerous devaluations. "I think you're referring to the recent moves in exchange rates, and the so-called talk of currency wars, which we feel is overblown," IMF spokesman Gerry Rice told reporters today, in response to a question about whether the Fund was concerned about recent exchange rate movements. "Our multilateral assessment does not indicate very significant deviations from the fair value for the relevant currencies," he said. Rice's statement echoed similar comments from the Fund's chief economist, who last month said the IMF saw no problems with countries' actions to get their economies back to health. — Reuters

Putin orders Russian security forces on high alert before Olympics Posted: 14 Feb 2013 07:55 AM PST MOSCOW, Feb 14 — President Vladimir Putin ordered Russia's security services to be on high alert today to protect against attacks by Islamist militants in the run up to next year's Winter Olympics in the Black Sea resort city of Sochi. Russia President Vladimir Putin. — Reuters pic Putin, speaking after a suicide bomber killed three policemen in a Caucasus province across the mountain range from the Sochi region, said "all anti-terrorist forces should be at the highest level of alertness and readiness." "The most important thing here is the protection of people's lives. It is necessary to provide reliable anti-terrorist protection of... large-scale public, international events soon to take place in our country," Putin told senior officials from the Federal Security Service. Russia fought two wars against separatists in its Chechnya province following the collapse of the Soviet Union, a conflict that has slowly turned into an insurgency that aims to carve out an Islamic state in the Caucasus. Sochi, host of the 2014 Winter Games, is at the western end of the Caucasus Mountain range. — Reuters

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