BREAKING - Britain urges U.S. Congress to stop blocking IMF reform
Posted by Vision on April 7, 2014 at 8:18pm
(Reuters) - Britain urged the U.S. Congress on Monday to stop delaying approval of reforms to the International Monetary Fund that would give more power at the institution to emerging economies.
Finance minister George Osborne, in a speech in Rio de Janeiro, said it was time for the world's new heavyweight nations such as Brazil to have a bigger say at the IMF.
"Let's implement the reforms we have agreed to in our international institutions like the IMF, so that countries like Brazil have the enhanced status and say that your economic strength earns you the right to," Osborne said.
"The failure of the U.S. Congress to ratify the agreed IMF reforms is bad for the institution and bad for the international community," he said. "I urge the Administration and Congress to act to pass them now."
Osborne is due to attend a twice-yearly meeting of policymakers at the IMF in Washington later this week when the issue of reform is likely to come up again.
A bid to get Congress to approve reforms of the IMF was dropped last month amid concerns that it could hold up a bill providing aid to Ukraine. The two proposals were included in the same legislation and Republican opposition to the extra funding included in the IMF plan threatened to torpedo it.
The White House has been urging Congress for a year to approve a shift of $63 billion from an IMF crisis fund to its general accounts, as agreed by the U.S. government in 2010.
Christine Lagarde, the managing director of the IMF, said last month she would continue to work for the reforms.
(Reporting by William Schomberg; Editing by Kevin Liffey)
ChrisTNT2: I’ d rather re-arrange my sock drawer non-stop for the next year than go through this again. That's how much THIS needs to be over.
[mbillions] Why is it so quiet in here? Are we expecting the unexpected?
[Bear'sOpenHeart] mbillions I 'spect so... rofl
[wolf1569] mbillions It's kinda like the boy that got regular spankings... the bottom gets numb and the expectaion is not as bad as it once was. Know it's comming just can't holler until it falls..
[mbillions] wolf1569 Well I hope to be hollerin' in the mornin' rofl
[KMAN] lol lol MAINSTREAM MEDIA Says GOLD is BACKED by NOTHING Trust the USD and Dont Buy GOLD
[KMAN] WOW....way to funny..watch the first two minutes... lol
[alfonse] KMAN The height of stupidity :O :)
[Truth] Problem is they think we are the stupid ones!
[KMAN] Russia, China leading efforts to bypass U.S. as IMF reforms stall on Capitol Hill http://philosophyofmetrics.com/2014/04/07/russia-china-leading-efforts-to-bypass-u-s-as-imf-reforms-stall-on-capitol-hill/
[bgood] Food for thought. Jester has always said there is a hard way and easy way. My question is that if the "cabal" stands to lose all manipulation powers then what incentive do they have to do anything but fight till the bitter end? Comments?
[Pilgrim] bgood WELL..............THEY AREN'T STUPID. SO INITIALLY I'D SAY THEY FIGHT TO THE BITTER END BUT................ THEY AREN'T STUPID EITHER
[bgood] Pilgrim. I agree. However what concessions could be given to gain common ground. The only thing I think I have figured out is that I may be looking for answers to the wrong questions.
[dldieter] Pilgrim.. I agree they aren't stupid but when you have had total power for hundreds of years, I bet they fight until they realize they will lose what little they might have left
[BocaLinda] Friends! We hopefully can slow them, but ultimately they rule. It is written, right?
[bgood] Here is one question, who has the control of the GCR? But the easier one to answer, in my opinion is, who do we know that doesn't have the control?
[LuckyB] we know tha peewee herman dont have any control at tall
[BocaLinda] Luckyb lol
[bgood] From my vantage point it can't be the us treasury or three letter agencies, it seems they leak that it will happen every day. The Chinese family, well, Zap has that one and I'm not sure if he's been right either. Who else if left, IMF?
[BocaLinda] Bgood good question . ..
[LuckyB] bgood who controls the imf !! who controls the fed !!!!!
[BocaLinda] Luckyb bgood the same creeps
[LuckyB] thats right .. there is the creeps thats not letting it out pure plain and simple as far as im concerned
[BocaLinda] Luckyb yup... wheres Superman when we need him?
[LuckyB] linda thats what wonderwoman wants to know also lol
[BocaLinda] Luckyb lol
[Betsy Ross] Bonnie Tyler - Holding Out For A Hero HD
[bgood] BocaLinda it seems I find myself looking for the person/group that can push this through. It would appear I need to find the person/group that can truly put the brakes on it. At that point, I believe we can find the people with the stroke to complete the GCR properly.
[bgood] Kind of like don't take no from someone that can't say yes. That's the guy I'm looking for.
[BocaLinda] Bgood i do believe the good guys are working it. Just don't know how much more time it'll take...
[alfonse] bgood I believe this will happen when, like a safe, the tumblers fall into place :)
[BocaLinda] Bgood this kind of deal will always be clandestine., imo. We wont know what hand is holding the cards til its done imo