Article source
The Wall Street Journal
Article date
Wed, Jan 22, 2014
Last week, a major setback to international cooperation and prospects for a stable and growing world occurred when the U.S. Congress passed up an opportunity to ratify historic IMF reforms as part of the recent U.S. budget deal.
In 2010, Washington demonstrated global leadership when it approved reforms that will secure the effectiveness and legitimacy of the IMF. Today, ratification by the U.S. Congress remains the final step in implementing those reforms. It is not our role to pass judgment on U.S. domestic policy or the trade-offs required for a deal. But failing to deliver on the commitment it has made to the world comes at an enormous cost to U.S. influence and its standing in the world.