U.S. Treasury Secretary James Bakermet West German Finance Minister Gerhard Stoltenberg and
Bundesbank President Karl Otto Poehl today in West Germany and
agreed to support the Louvre pact, the Treasury Department
said.
    The Treasury described the meeting as "a very positive,
private meeting in Frankfurt, West Germany which had been
agreed upon last week. "The parties agreed to continue economic
cooperation under the Louvre agreement and its flexible
application including cooperation on exchange rate stability
and monetary policies," the Treasury said.
    The Treasury said Baker and Stoltenberg "are consulting with
their G-7 colleagues and are confident that this will enable
them to foster exchange rate stability around current levels."
    The Louvre pact is an agreement between the Group of Seven
leading industrial countries including the United States and
West Germany to promote currency stability.
    Baker was scheduled to visit Scandinavia and Belgium this
week and the department earlier refused to release details of
his travel itinerary, citing security considerations.
 Reuter
