G20 frustrated with U.S. foot-dragging over IMF reforms

|By:, SA News Editor

G20 ministers and central bankers are "deeply disappointed" that the U.S. has not yet approved reforms to the IMF that were initially agreed in 2010.

At a meeting of the fund, countries threatened to move forward without the U.S. if it doesn't authorize the changes by the end of the year.

The reforms would give more power to emerging nations such as Brazil, Russia, India, China and South Africa (BRICS), and double the fund's resources.

However, the changes have met opposition in Congress, including over cost.