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


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.

Comments (1)
  • taxman100
    , contributor
    Comments (614) | Send Message
     
    So, the United States pays more, but loses influence over the IMF.

     

    I'm sure Obama is pushing this one hard.
    13 Apr 2014, 03:24 PM Reply Like
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