WASHINGTON (Reuters) - The Senate Appropriations Committee on Monday rebuffed a request by the Obama administration to approve a permanent increase in U.S. funding to the International Monetary Fund, part of a broader deal that would increase the voting power of emerging market economies in the global lender.
Senate Democratic and Republican aides said legislation that would avoid a government shutdown in late March did not include a provision requested by the Obama administration on IMF funding. The Republican House of Representatives rejected the request last week, which would shift about $65 billion in U.S. funds from an IMF crisis fund to more permanent resources.
U.S. congressional approval is needed to finalize the 2010 IMF reform package, which would make China the IMF's third-largest voting member after the United States and Japan. It would also increase the voting power of other large emerging economies like Brazil and India.
(Reporting by Lesley Wroughton; Editing by Eric Walsh)
NRA Thanks Obama For Signing Pro-Gun Legislation - Bearing Arms - Barack Obama, National Defense Authorization Act
Stumbling to War With Russia? | Human Events
State Department: Iran Never Signed Nuclear Deal, Which Isn't 'Legally Binding'
The Cruz Surge Creates GOP Establishment Panic And Paralysis | RedState
'This is not a day care': Oklahoma Wesleyan University president applauded for wake-up call to special snowflakes
- What Is Your U.S. Income Percentile Ranking?
CNN anchor goes inside a cop’s world in a deadly shooting scenario