WASHINGTON/MOSCOW (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.
WASHINGTON/MOSCOW, March 6 (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,
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
WASHINGTON (Reuters) – The Obama administration is asking Congress to fix a 2012 bill that left a World Bank agency out of a list of 12 international financial institutions that could receive U.S. support to promote development in Myanmar.
The Multilateral Investment Guarantee Agency (MIGA) promotes foreign direct investment in emerging markets by protecting private investors from various forms of political risk.
WASHINGTON, March 4 (Reuters) – Ukraine would be able to
borrow more money in the midst of its current crisis if U.S.
lawmakers sign off on a measure to increase the International
Monetary Fund’s financial power, U.S. officials said on Tuesday.
The IMF legislation would double the fund’s resources and
give countries in crisis, such as Ukraine, access to a bigger
pool of potential aid.
WASHINGTON (Reuters) – The United States on Tuesday sought to use the crisis in Ukraine as leverage in its effort to convince Congress to approve a long-sought measure to increase the International Monetary Fund’s financial power.
Treasury Secretary Jack Lew said Ukraine would be able to borrow more money and avert a potential default if U.S. lawmakers signed off on the measure, which would double the IMF’s resources and give countries in crisis access to a bigger pool of potential aid.
WASHINGTON, Feb 28 (Reuters) – The head of the International
Monetary Fund said on Friday that there was no need to “panic”
in terms of delivering economic aid to Ukraine, as she cast
doubt the nation would need as much immediate help as its new
“We do not see anything that is critical, that is worthy of
panic at the moment,” IMF Managing Director Christine Lagarde
told reporters. “We would certainly hope that the (Ukrainian)
authorities refrain from throwing lots of numbers which are
really meaningless until they’ve been assessed properly.”
WASHINGTON (Reuters) – The World Bank on Thursday said it postponed a $90 million loan to Uganda’s health system over a law that toughened punishment for gays, an unusual move for an institution that usually avoids wading into politics.
“We have postponed the project for further review to ensure that the development objectives would not be adversely affected by the enactment of this new law,” World Bank spokesman David Theis said in an email.
WASHINGTON (Reuters) – The International Monetary Fund on Thursday said it would send a fact-finding team to Ukraine next week in response to Kiev’s request for support after the ouster of President Viktor Yanukovich.
IMF Managing Director Christine Lagarde said the IMF and its international partners were discussing how to help Ukraine, which says it needs $35 billion over two years to avoid bankruptcy.
WASHINGTON (Reuters) – Russian economy minister Alexei Ulyukayev said on Monday the next $2 billion bailout installment for Ukraine is “ready to go” and that Moscow was waiting for the formation of a new government after the ouster of Russian-backed president Viktor Yanukovich.
“Our position is, we are going to continue with that. But we would like to know, who are our partners?” Ulyukayev said during an event at the U.S. Chamber of Commerce in Washington.
WASHINGTON (Reuters) – The World Bank hopes to boost its lending by 50 percent over 10 years by cutting costs, loosening a restriction on how much it can lend, and charging richer nations higher fees for some services, several people familiar with the matter said.
The bank’s board signed off on the plan to raise lending by $100 billion this week, and the details are supposed to be worked out ahead of the spring meetings of the World Bank and the International Monetary Fund in April, said the sources, who were not authorized to speak publicly.