LOCAL NEWS:
KEYWORD
Political News
A   A   A
Email Close

President Barack Obama nominates air quality expert Gina McCarthy to lead the Environmental Protection Agency, nuclear physicist Ernest Moniz to head the Department of Energy and Walmart's philanthropic head Sylvia Mathews Burwell to become director of th

Obama seeks authority for IMF vote reforms
Obama seeks authority for IMF vote reforms
Posted : Tuesday, 05 March 2013 07:44PM

WASHINGTON (Reuters) - The Obama administration has asked the U.S. Congress for authority to implement historic voting reforms in the International Monetary Fund agreed in 2010 that would boost the influence of emerging economies like China in the institution, sources said on Tuesday.

The Treasury Department submitted the request as a provision to be inserted into pending legislation, that aims to keep the U.S. government funded through 2010, congressional aides said. The Treasury sought authority to shift $65 billion in existing U.S. money from an IMF crisis fund into U.S. quotas, which determine voting power in the Fund.

(Reporting by David Lawder and Lesley Wroughton; Editing by Eric Walsh)

(c) Copyright Thomson Reuters 2013. Check for restrictions at: http://about.reuters.com/fulllegal.asp
More Political Headlines