As the effects of currency depreciation are similar to that of an export subsidy or import tax, there were fears that some countries were trying to soften the effect of the crisis by resorting to competitive devaluation.
Les effets de la dépréciation monétaire étant comparables à ceux de subventions à l &apos; exportation ou de taxes à l &apos; importation, on craignait que certains pays ne s &apos; efforcent d &apos; atténuer les effets de la crise en recourant à une dévaluation compétitive.