G20 finance ministers and central bank governors are set to meet in South Korea starting Friday. During the two-day meeting, they want agreement on a common path to manage currency, trade and macro-economic imbalances ahead of their leadership meeting in Seoul next month.

Ahead of this, the vice finance ministers and deputy central bank governors laid some groundwork at their Thursday's meeting. They reviewed and coordinate topics to be discussed. And one of the hottest is, of course, exchange rate policies. Participants agreed further currency disputes may hinder the global economic recovery. They also discussed reform of the International Monetary Fund.

The G20 Seoul Summit will be held on November 11th and 12th.