US dollar overvalued from medium-term view: IMF

WASHINGTON: The International Monetary Fund said on Thursday that the US dollar was "somewhat" overvalued and greater currency flexibility in some countries will be needed to support the global economy.

"The US is no longer going to be the global consumer of last resort and therefore other countries, especially those with current account surpluses, will need to take up the slack," IMF Western Hemisphere Department Deputy Director David Robinson told reporters.

"With our assessment that the dollar is now somewhat overvalued from a medium-term perspective, I emphasize medium term, this will also need to be accompanied by greater exchange rate flexibility and appreciation elsewhere," he said.