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IMF warns of debate on 2010 reform plan without U.S.

The International Monetary Fund warned Saturday that future debate on a 2010 institutional reform plan may take place without the United States, if Congress fails to ratify the plan by the end of this year. The International Monetary and Financial Committee, the policy-setting body of the IMF, wrapped up its meeting in Washington, after reaffirming the necessity of implementing the Quota and Governance Reform plan under which emerging economies will be given greater voting rights.

IMF no longer forces "structural adjustment"

The International Monetary Fund has changed and no longer imposes tough "structural adjustment" programs as it did in poor countries two decades ago, IMF chief Christine Lagarde said Saturday. Told by a journalist from Ghana that many people there had "a phobia for the IMF" due to the harsh conditions of its past structural adjustment programs in Africa and South America, Lagarde responded: "Structural adjustment? That was before my time, I have no idea what it is. We don't do that anymore."

IMF says 'herdlike' capital means countries must reform

Increasingly fickle capital flows mean that countries have to implement domestic reforms to protect their stability, the International Monetary Fund's powerful advisory board said Saturday. After many emerging economies were hobbled by sharp capital outflows over the past year, the IMF's steering committee, the International Monetary and Financial Committee, said that more volatility was to come, especially as the US tightens monetary policy.

IMF warns of debate on 2010 reform plan without U.S.

The International Monetary Fund warned Saturday about future debate on a 2010 institutional reform plan without the United States, if Congress fails to ratify it by the end of this year. The International Monetary and Financial Committee, the policy-setting body of the IMF, wrapped up its meeting in Washington, after reaffirming the necessity of the Quota and Governance Reform under which emerging economies will be given greater voting rights.

China backs aid for Ukraine, worried by IMF funding capacity

By David Brunnstrom WASHINGTON (Reuters) - China said on Saturday it backed IMF financial support for Ukraine, but expressed concern about the global lender's funding capacity given the failure of the U.S. Congress to ratify a program of reforms for the institution. Chinese Vice Finance Minister Zhu Guangyao told a small group of Western journalists on the sidelines of the IMF-World Bank spring meetings in Washington it was a "worry" that more than 85 percent of IMF lending was currently focused on Europe.

G20 urges US to ratify IMF reforms by year-end

The G20 pressed the United States on Friday to ratify crucial IMF reforms after four years of waiting, suggesting they would find an alternative if Washington does not deliver by year's end. The reforms, which include a funding increase and expansion of emerging economies' roles in the International Monetary Fund, were originally strongly backed by the United States, the Fund's largest shareholder. But implementation, which must have US support, has been held up by political battles in the US Congress, which needs to ratify the reforms.

G20 urges US to ratify IMF reforms by year-end

The G20 pressed the United States Friday to ratify crucial IMF reforms after four years of waiting, suggesting they would find an alternative if Washington does not deliver by year-end. "We are deeply disappointed with the continued delay in progressing the IMF quota and governance reforms" agreed in 2010, the group said. "The implementation of the 2010 reforms remains our highest priority and we urge the US to ratify these reforms at the earliest opportunity," the group said.

G20 urges US to ratify IMF reforms by year-end

The G20 pressed the United States Friday to ratify crucial IMF reforms after four years of waiting, suggesting they would find an alternative if Washington does not deliver by year-end. "We are deeply disappointed with the continued delay in progressing the IMF quota and governance reforms" agreed in 2010, the group said. "The implementation of the 2010 reforms remains our highest priority and we urge the US to ratify these reforms at the earliest opportunity," the group said.

IMF says Ukraine's debt is sustainable; Fund can lend to Kiev

WASHINGTON (Reuters) - The International Monetary Fund is able to lend to Ukraine because the country's debt is sustainable, the head of the IMF's European department, Reza Moghadam, said on Friday. "Debt in Ukraine is sustainable," Reza Moghadam said in a news conference during the IMF and World Bank spring 2014 meetings. He noted that Ukraine's external debt, which has suffered as a result of the country's political crisis and tensions with Russia, was only around 30 percent of its GDP.

Ukraine worries cloud IMF/World Bank meetings

The United States delivered a stern warning to Russia Thursday at the World Bank/IMF meetings in Washington amid worries that a spiralling Ukraine crisis could hurt the world economy. Treasury Secretary Jacob Lew told his Russian counterpart Finance Minister Anton Siluanov that in addition to the actions following last month's annexation of Crimea, "the United States is prepared to impose additional significant sanctions on Russia if it continues to escalate the situation in Ukraine," the Treasury said.
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