China expresses regret at U.S. failure to pass IMF reforms

BEIJING (Reuters) - China expressed regret on Friday at the failure of U.S. Congress to pass reforms to give emerging markets greater say at the International Monetary Fund. The White House signed off on the reforms in 2010, but U.S. lawmakers need to back changes in how the IMF is funded before they can be put into place, given Washington's position as a controlling shareholder in the global lender. But a must-pass $1.1 trillion U.S. spending bill unveiled late on Tuesday omits the IMF voting reform provision, dooming prospects that it will get passed by a year-end deadline. ...

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