Congress is heading for the approval of IMF reforms

Congress is heading for the approval of IMF reforms

21-05-2015 02:11 PM

Congress is heading for the approval of IMF reformsUS Treasury Secretary Jack said if the Congress is approaching the approval of the International Monetary Fund reforms, but lawmakers are now trying to agree on the timing and the best ways to pass the historic legislation. And hampered the US reluctance to adopt international financial institution reforms, changes designed to increase the voting power of emerging economies such as China and India, raising disappointment in the world. The support of US President Barack Obama’s administration reforms, but failed to persuade Congress approval of the necessary funding for the agreement changes. And the United States can prevent Monetary Fund reforms because it acquires a controlling share of the vote. Lu said about his talks with lawmakers about the International Monetary Fund reforms: «I can inform you that the talks related in the form of more time to do so and his ways, and not whether it will happen or So I do not think that this is a positive change in the course of the talks. » He said during the conference: «But our intention to do so is not enough, for Congress to move». Some US lawmakers fear that reforms the IMF be cost prohibitive at a time when record budget deficit in Washington elevated levels. They also criticize the Fund’s efforts to help the struggling economies in Europe and the risks involved in lending billions of dollars provided by the Fund to countries such as Greece. Lu said in response to criticism of the efforts of the fund in Europe: «I do not think it’s fair to judge any institution record from that in If someone found the one thing he can do in a different form, it becomes the basis for reconsideration of the purpose of the whole enterprise ». it announced the head of the International Monetary Fund Christine Lagarde, that the Fund achieves «some» progress in the discussions with Greece about the agreement for aid financial, but also must familiarize the views of the international community. And trying to Greece and international creditors to reach an agreement precludes running out of financial liquidity at Athens in return for pledges of economic reforms. said Lagarde at a conference: «But it is clear that a difficult situation, and we all have to take care of it, not only to economic success and financial stability, but also accounting commitments made ​​to the international community ». However faced criticism that the Fund is biased to its members richer, Lagarde seeks to show that the international financial institution strict with all its Member States 188. guestrooms and said that talks with Greece must also take into consideration the political reality in Country, where a new left-wing government elected on the basis of strong anti program for financial rescue agreement.

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