U.S. lawmakers late on Monday rebuffed a request by the Obama administration to approve a permanent increase in U.S. funding to the International Monetary Fund in a setback for IMF reforms to boost the voting power of emerging economies.
The reforms need congressional approval because they involve shifting and making permanent a $65 billion U.S. contribution to an IMF crisis fund.
Read more: http://www.reuters.com/article/2013/03/12/us-usa-imf-reforms-idUSBRE92B04K20130312
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