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Obama’s IMF pledge could be tough sell in Washington

April 6, 2009

President Barack Obama’s pledge to boost IMF resources to help other crisis-hit economies could prove a tough sell for a Congress suffering from bailout fatigue and worried about mounting U.S. debt.

Obama joined other leaders of the G20 countries in London this week promising to triple funding for the International Monetary Fund as part of a package of actions to combat the global economic crisis.

The new funds are aimed mainly at struggling poorer countries, notably in eastern Europe.

“The IMF has to play a big role,” Representative Gregory Meeks, a Democrat who heads the House Financial Services subcommittee on international monetary policy and trade, said in an interview with Reuters.

His panel is scheduled to hold a hearing later this month on the G20 meeting and the IMF request.

The story continues …..

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