Exclusive: Russia wants IMF to move ahead on reforms without U.S. - sources

[dipsydoodle]

Source: Reuters

(Reuters) - Russian officials are pushing for the International Monetary Fund to move ahead with planned reforms without the United States, which could mean the loss of the U.S. veto over major decisions at the global lender, sources said.

Russian Finance Minister Anton Siluanov brought up the idea at a meeting of top finance officials from the Group of 20 nations in Sydney late last month, two G20 sources told Reuters this week.

The failure of the U.S. Congress to approve IMF funding has held up reforms agreed in 2010 that would double the Fund's resources and give more say to emerging markets like China.

true The United States is the only country that holds a controlling share of IMF votes, meaning its approval is necessary for any major decision to go forward.



Read more: http://www.reuters.com/article/2014/03/06/us-imf-reforms-idUSBREA251IN20140306

[Demeter]

1. Very significant complaint; and entirely justified

Score another blow for the GOP in destroying the morality of the US.

[rtracey]

6. and who knows

and as our Right Winged owned media outlets will not state as much, how will anyone know this is another GOP perverse of this country. If the media would do their job with integrity, these issues would be out in the open.. but then again, the people that support the right wing that earn less then 100,000 a year don't even know with the IMF is....

[Iliyah]

2. Who me - GOP? They will deny deny deny and

of course turn it around to blame, guess who.

[jakeXT]

3. Reuters not working for me, do they mention anything on the South-South Development Bank ?

SINGAPORE: The BRICS group of nations are exploring the possibility of establishing a South-South Development Bank as an emerging economies' alternative to the existing West-led financial institutions, and will hold a meeting in New Delhi next week to discuss its feasibility.

External Affairs Minister S M Krishna has said an experts' meeting would be held in the Indian capital on March 19 as China and India, in association with Brazil, Russia, and South Africa, have taken the initiative to discuss such a bank as a BRICS-led project.

http://articles.economictimes.indiatimes.com/2012-03-12/news/31153032_1_brics-world-bank-south-africa

[dipsydoodle]

4. Couldn't find anything on that subject which was new.

.

[Iliyah]

5. Really India?

A lot of tech jobs (AT&T) were and still are being moved there from the USA.

[cprise]

7. So the austerity deal Yanukovich turned down would put Ukraine under US control

This is an interesting challenge to US hegemony.

[1000words]

8. Shrewd move

Curious to see how the White House counters.