IMF's Lagarde says can't do much about reform without U.S. support
Results 1 to 2 of 2

Thread: IMF's Lagarde says can't do much about reform without U.S. support

  1. #1

    IMF's Lagarde says can't do much about reform without U.S. support

    (Reuters) - International Monetary Fund chief Christine Lagarde said on Sunday that there was not much she should could to push reform at her organization and give emerging economies a bigger say without the support of the United States.

    China in January called on IMF member nations to stick to a commitment to give emerging markets more power at the global lender after U.S. lawmakers set back historic reforms that would give developing countries a greater say.

    The remarks by China's foreign ministry were an indirect criticism of the United States, the biggest and most powerful IMF member, where lawmakers that month failed to agree on funding measures needed for the reforms to move forward.

    The U.S. Congress must sign off on the IMF funding to complete 2010 reforms that would make China the IMF's third-largest member and revamp the IMF board to reduce the dominance of Western Europe.

    Speaking at Beijing's elite Tsinghua University, Lagarde said this was a matter for the United States to complete the process and ensure that the relevant legislation can be passed.

    "This is not something I can do much about," she told students.

    She added that she hoped emerging economies could have a bigger voice within the institution.

    The reform of the voting shares, known as quotas, cannot proceed without the United States, which holds the only controlling share of IMF votes.

    (Reporting by Shao Xiaoyi and Ben Blanchard; E$diting by Nick Macfie)

  2. #2

    Re: IMF's Lagarde says can't do much about reform without U.S. support

    The problem with this is that we place our countries decision making process in the control of foreign nations... This is all by design, but one does not have to like it... As it was in Ancient Babylon during the time of Nimrod not to long after God had flooded the earth, in our present day we continue to repeat the same mistakes... Thinking that this is a good idea at this point in history is being naive... We have wicked forces ruling in high places, and those in the flesh complicit to their demands in exchange for power, and wealth... God is allowing us to be weakened because of bad policy... But ultimately bad decisions are being made due to our lawlessness... In other words we are being taken out to the woodshed for our iniquity... A reality that far too many US citizens are willingly ignorant of... It is not our righteousness, but God's we must seek... Otherwise we are living our lives in vain... As King Solomon wrote in Ecclesiastes "vanity, vanity... All is vanity without the Lord God Almighty... Obedience to Him in accordance to His Word is paramount to ones spiritual survival...

    As Jesus Christ said, "It would be as in the days of Noah." Noah lived another 350 years according to scripture after the flood... He certainly lived a full life, and sadly was exposed to the darker side of man when humanity refuses to listen to God Almighty... Oh how history repeats itself...

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts