Big-Hitters Side With Obama Over IMF |
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May 19,2009
The Obama administration turned to a group of Republican and Democrat big-hitters on Monday to bolster its attempt to win Congressional approval for more money for the International Monetary Fund.
The Obama administration turned to a group of Republican and Democrat big-hitters on Monday to bolster its attempt to win Congressional approval for more money for the International Monetary Fund.
A string of former secretaries of State and Treasury, including Hank Paulson and Condoleezza Rice, wrote to Congressional leaders urging them to approve US President Barack Obama’s request for $108bn more for the IMF.
The president promised at the G20 meeting last month to increase the US contribution to the IMF to help it combat the global downturn, and pressed other countries to do the same.
Persuading a Congress weary of bail-outs has proved difficult and complicated, however, as many lawmakers fret about the ballooning budget deficit and the scale of domestic spending commitments.
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