The Business Times

Republicans versus the IMF - the battle continues

Published Tue, Dec 23, 2014 · 09:50 PM
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IT DID not come as a big surprise to anyone that in the US government Bill recently approved by the Republican-controlled House of Representatives there was no funding for the International Monetary Fund (IMF), just as Representative Hal Rogers from Kentucky, the Republican chairman of the powerful House Appropriations Committee, had made clear a few days earlier.

Similarly, the House and the Senate (that will remain under Democratic control until the end of the year) working together on a House-Senate budget legislation failed to come up with an agreed formula on American financial backing for the Washington-based international financial organisation. (Republican lawmakers have also declined to approve the White House's nominations to six US board positions at the IMF and other international development banks.)

If anything, the conventional wisdom now is that with both the House and the Senate coming under Republican control next year and as politicians prepare for the 2016 presidential and congressional elections, there is a very slim chance that US lawmakers will decide to change their attitudes towards the IMF.

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