A 2010 global agreement that gives emerging markets such as China a bigger say at the International Monetary Fund may be sent to Congress next month for approval needed to take effect, a lawmaker with an oversight role said.
Representative John Campbell, a California Republican who heads a House subcommittee with jurisdiction over the IMF, said he thinks the Obama administration will submit a request along with budget plans expected around mid-March. While no fresh money is needed, Congress has to agree to transfer U.S. funds from a temporary credit line into permanent IMF resources as part of the package.
